Nortec Increases Size of Private Placement

Nortec Minerals (TSXV:NVT) has announced that it has increased the size of the private placement to 15,300,000 units at $0.05 per unit for gross proceeds of $765,000.
As quoted in the press release:

Each Unit will consist of one common share of the Company and one transferable common share purchase warrant (a “Warrant”) exercisable to acquire one additional common share for a period of two years at an exercise price of $0.10 per share. In the event that the common shares of the Company trade at a closing price in excess of $0.20 per share for a period of 10 consecutive trading days at any time after four months following closing of the Private Placement, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case, the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

Click here to read the full press release.