By Laura Lutz
Des Moines, June 28 - Norsemont Mining Inc. arranged a private placement of units for C$9 million.
The company plans to sell 5.625 million units of one share and one warrant at C$1.60 per unit. Each whole warrant will be exercisable at C$1.95 for two years.
Sentient Group, the company's largest shareholder, has agreed to subscribe for C$2 million.
The placement will be non-brokered.
Settlement is expected by July 20.
Proceeds will be used for exploration and development and for working capital.
Norsemont is a mining company based in Vancouver, B.C.
| Issuer: | Norsemont Mining Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$9 million
|
| Units: | 5.625 million
|
| Price: | C$1.60
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.95
|
| Agent: | Non-brokered
|
| Investor: | Sentient Group (for C$2 million)
|
| Pricing date: | June 28
|
| Stock symbol: | Toronto: NOM
|
| Stock price: | C$1.70 at close June 28
|
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