By Marisa Wong
Milwaukee, Jan. 14 - Noront Resources Ltd. announced it will raise C$6.7 million through an issuance of stock to some institutional investors.
Noront will sell 2,436,364 common shares at C$2.75 per share.
The offering is expected to close in February.
Proceeds will be used to fund corporate and development activities related to the company's McFaulds Lake project.
Noront is a mineral exploration company based in Toronto.
| Issuer: | Noront Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$6.7 million
|
| Shares: | 2,436,364
|
| Price: | C$2.75
|
| Warrants: | No
|
| Announcement date: | Jan. 14
|
| Stock symbol: | TSX Venture: NOT
|
| Stock price: | C$1.77 at close Jan. 14
|
| Market capitalization: | C$296.13 million
|
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