By Devika Patel
Knoxville, Tenn., Aug. 26 - Noront Resources Ltd. said it settled a C$25 million private placement of stock. The deal priced for C$20 million on Aug. 6, and the company added a C$5 million greenshoe on Aug. 10.
The company sold 8,928,500 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.
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$25 million, including C$5 million exercised greenshoe
|
| Shares: | 8,928,500
|
| Price: | C$2.80
|
| Warrants: | No
|
| Agent: | Wellington West Capital Markets Inc. (lead)
|
| Pricing date: | Aug. 6
|
| Upsized: | Aug. 10
|
| Settlement date: | Aug. 26
|
| Stock symbol: | TSX Venture: NOT
|
| Stock price: | C$2.51 at close Aug. 5
|
| Market capitalization: | C$328 million
|
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