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Northern Vertex Mining Corp (TSXV:NEE) announced that it has closed the final tranche of its non-brokered private placement and issued a further 500,000 units raising gross proceeds of the placement to approximately US$2.711 million.
Northern Vertex Mining Corp (TSXV:NEE) announced that it has closed the final tranche of its non-brokered private placement and issued a further 500,000 units raising gross proceeds of the placement to approximately US$2.711 million.
As quoted in the press release:
Each Unit consists of one common share (“Common Share”) of the Company and one transferable share purchase warrant (“Warrant”). Each whole Warrant from this tranche will entitle the holder to acquire one Common Share at an exercise price of $0.50 until April 4, 2019. Cash finders’ fees to arm’s length parties of 6%, totaling $9,600 will be paid on the remaining portion of the Private Placement.
The Company intends to use the net proceeds of the Private Placement for the advancement of the Company’s Moss Mine Gold-Silver property located in Mohave County, NW Arizona, USA and general corporate purposes. All of the securities issued today pursuant to the Private Placement will have a four month hold period which expires August 5, 2016. All amounts quoted are in Canadian dollars.
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