Noront Resources Announces Issuance of Interest Shares

Noront Resources Ltd. ("Noront") (TSX Venture: NOT) announces that payment of interest in the amount of $382,698 for the fourth quarter of 2020 pursuant to a loan agreement entered into between Noront and Resource Capital Funds V L.P. ("RCF") dated February 26, 2013 (the "Loan Agreement") has been satisfied by delivery of 1,994,257 common shares of the Company (the "Interest Shares") at an effective price of $0.1919 per Interest Share. The Interest Shares were delivered on January 14, 2021 subject to a four month hold period, expiring on May 15, 2021.

The calculation of the number of Interest Shares issued was based on the volume weighted average trading price of the common shares of the Company during the 20 trading days prior to December 31, 2020.

After giving effect to the issuance of the Interest Shares, there are 419,506,791 common shares of the Company issued and outstanding.

About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle's Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information:
Greg Rieveley
greg.rieveley@norontresources.com
(416) 367-1444


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
FPX Nickel (TSXV:FPX)

FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) ("FPX" or the "Company") is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project ("Baptiste" or the "Project"). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

"The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain," commented Martin Turenne, FPX Nickel's President and Director. "This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process."

Keep reading...Show less
Nickel bars in front of a world map.

Top 9 Nickel-producing Countries

The top nickel producing countries list has been shaken in recent years by Indonesia's rapid rise to the top, beating the Philippines and New Caledonia.

Demand for nickel is mounting. Stainless steel accounts for the vast majority of nickel demand, but electric vehicle (EV) batteries represent a growing application for the base metal as the shift toward a greener future gains steam.

But while nickel's long-term outlook appears bright, it may face headwinds in the short term. Nickel prices have been trending down since breaking US$20,000 per metric ton in May 2024 as weak usage coincides with strong output from top producer Indonesia.

Keep reading...Show less
Ni-Co Energy

Ni-Co Energy Set to Mobilize Critical Minerals Exploration just 90 km from Montreal

Ni-Co Energy Inc. announces that its technical team will be mobilized to the Kremer property around mid-June 2025. The project is located approximately 90 km north of downtown Montreal and about 15 km from the nearest municipality, in a remote forested area with access via an existing road and close proximity to the hydroelectric grid.

Meet The Team:

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less

Latest Press Releases

Related News

×