By Devika Patel
Knoxville, Tenn., Aug. 6 - Noront Resources Ltd. said it will conduct a C$20 million private placement of stock.
The company will sell flow-through common shares at C$2.80 apiece on a best-efforts basis via a syndicate of agents led by Wellington West Capital Markets Inc.
Settlement is expected Aug. 26.
Proceeds will be used for exploration.
Based in Toronto, Noront Resources is a gold exploration company.
| Issuer: | Noront Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$20 million
|
| Price: | C$2.80
|
| Warrants: | No
|
| Agents: | Wellington West Capital Markets Inc. (lead)
|
| Pricing date: | Aug. 6
|
| Settlement date: | Aug. 26
|
| Stock symbol: | TSX Venture: NOT
|
| Stock price: | C$2.51 at close Aug. 5
|
| Market capitalization: | C$353 million
|
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