BRIEF-Nautilus Minerals continues to consider alternative financing

Wed Jun 29, 2016 6:37am EDT
 
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June 29 (Reuters) - Nautilus Minerals Inc

* Continues to consider alternative sources of financing to maintain development of Solwara 1 project and company's operations

* Says failure to secure bridge financing and/or project financing may result in company taking various steps

* Requires significant additional funding to complete build and deployment of seafloor production system at Solwara 1 project

* Says various steps includes suspending or terminating development of seafloor production system and Solwara 1 project

* Independent directors will be looking to engage a financial advisor to assist them

* Steps also include engaging in various transactions including, without limitation, asset sales, joint ventures and capital restructurings

* Says unable to determine extent of delay at this time

* Nautilus minerals provides update Source text for Eikon: Further company coverage: