Nuinsco Resources Limited

Nuinsco Resources Limited

April 27, 2009 08:00 ET

Nuinsco Announces Completion of Rights Offering To Shareholders

TORONTO, ONTARIO--(Marketwire - April 27, 2009) - Nuinsco Resources Limited ("Nuinsco" or the "Company") (TSX:NWI) today announced that it has completed its previously announced rights offering. Under the rights offering, a total of 43,639,488 rights were exercised for the issuance of 10,909,872 units. In addition, 4,347,640 units were subscribed for under the terms of the additional subscription privilege as set forth in the rights offering circular sent to shareholders, for an aggregate issuance of 15,257,512 units for gross proceeds of $762,875.60. As the rights offering was not fully subscribed, the number of rights that insiders were permitted to exercise was reduced in accordance with National Instrument 45-101 - Rights Offerings.

"It's unfortunate that this rights offering was not more fully subscribed to by shareholders as it was intended to be a non-dilutive means of financing, however we would like to thank all of those shareholders who exercised their rights for their continued support of Nuinsco," said CEO Rene Galipeau.

Each Unit is comprised of one common share and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share at a price of $0.10 during the 12 month period beginning at 9:00 a.m. (Toronto time) on April 23, 2010 and ending at 4:00 p.m. (Toronto time) on April 23, 2011.

Please visit the Company's website at Should you wish to receive Company news via email, please email and specify "Nuinsco Resources" in the subject line.

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