Noront Resources Adds Former Barrick Gold Exec to Board of Directors

Noront Resources Ltd. (TSXV:NOT) announced plans to raise aggregate proceeds of $990,000 via a non-brokered private placement of up to 3 million units priced at $0.33 each. Furthermore, it plans to raise up to $570,000 through the offering of 1.5 million flow-through shares priced at $0.38 each.
The company also announced the appointment of Sybil Veenman to its board of directors.
As quoted in the press release:

Each Unit will consist of one common share and one half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one common share of Noront for a period of two years from the date of closing at a price of $0.47 per common share.
Completion of the private placement will be subject to the receipt of all necessary regulatory and stock exchange approvals. Noront expects to complete the private placement by the middle of September, 2015.

Paul Parisotto, chairman of Noront’s board, commented:

Sybil Veenman was a member of the Barrick Gold executive team for many years and in that capacity she was involved in a wide range of operational, regulatory, political and social aspects of the mining business. The breadth of her knowledge and experience both as legal counsel and in managing business opportunities and issues for a large global mining and exploration company will be an important addition to the Noront Board of Directors. We’re extremely pleased to welcome her to the Noront team.

Click here to read the full Noront Resources Ltd. (TSXV:NOT) press release.