By Devika Patel
Knoxville, Tenn., May 12 - Noront Resources Ltd. said it will raise C$13.9 million in a private placement of stock. The deal priced for C$15 million with a 15% greenshoe on April 19.
The company sold 7,598,200 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 were the agents.
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$13,904,706
|
| Shares: | 7,598,200
|
| 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$235 million
|
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