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Noront Resources Ltd. (TSXV:NOT) announced that it’s closed a private placement of 4,824,218 flow-through common shares priced at $0.50 each. Gross proceeds came to $2,412,109.
Noront Resources Ltd. (TSXV:NOT) announced that it’s closed a private placement of 4,824,218 flow-through common shares priced at $0.50 each. Gross proceeds came to $2,412,109.
As quoted in the press release:
The common shares are subject to a statutory hold period of four months plus one day which will expire on March 25, 2016.
The gross proceeds from the Offering will be used to continue exploration efforts in the highly prospective Ring of Fire property that Noront has assembled. The proceeds will fund Canadian Exploration Expenses (“CEE”), with the company to use best efforts to qualify such CEE as “flow-through mining expenditures”.
In connection with the Offering, Secutor Capital will receive a cash finder’s fee equal to 6% of the gross proceeds.
Click here to read the full Noront Resources Ltd. (TSXV:NOT) press release.