By Devika Patel
Knoxville, Tenn., April 19 - Noront Resources Ltd. said it will raise C$15 million in a private placement of stock. There is a 15% greenshoe.
The company will sell flow-through common shares at C$1.83 per share on a best-efforts basis.
Dundee Securities Corp., Wellington West Capital Markets Inc. and Genuity Capital Markets are the agents.
Settlement is expected on May 12.
Proceeds will be used for exploration.
Noront is a mineral exploration company based in Toronto.
| Issuer: | Noront Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$15 million
|
| Greenshoe: | 15%
|
| Price: | C$1.83
|
| Warrants: | No
|
| Agents: | Dundee Securities Corp., Wellington West Capital Markets Inc. and Genuity Capital Markets
|
| Pricing date: | April 19
|
| Settlement date: | May 12
|
| Stock symbol: | TSX Venture: NOT
|
| Stock price: | C$1.59 at close April 19
|
| Market capitalization: | C$263 million
|
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