By Devika Patel
Knoxville, Tenn., Nov. 1 - Norsemont Mining Inc. said it has entered into an agreement with a syndicate of underwriters led by Paradigm Capital Inc. to raise C$15.66 million in a private placement of special warrants.
The company will sell 5.4 million special warrants at C$2.90 apiece. Each warrant is exchangeable at no additional cost for one unit. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$3.50 for two years.
The underwriters have a greenshoe for an additional 810,000 special warrants, or C$2,349,000.
Proceeds will be used for development and general corporate purposes.
Based in Vancouver, B.C., Norsemont is a natural resource company.
| Issuer: | Norsemont Mining Inc.
|
| Issue: | Special warrants exercisable for units of one common share and one half-share warrant
|
| Amount: | C$15.66 million
|
| Greenshoe: | 810,000 special warrants, or C$2,349,000
|
| Special warrants: | 5.4 million
|
| Price: | C$2.90
|
| Warrants: | One half warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.50
|
| Underwriter: | Paradigm Capital Inc. (lead)
|
| Pricing date: | Nov. 1
|
| Stock symbol: | Toronto: NOM
|
| Stock price: | C$3.32 at close Oct. 31
|
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