New York, March 30 - Nortec Ventures Corp. said it completed a private placement for C$2.025 million and announced terms on the transaction.
The company sold 9.2 million shares and 4.3 million special warrants exchangeable for shares, both at a price of C$0.15.
The special warrants will be exchangeable on the third business day after the company obtains shareholder approval for the warrants.
Pinetree Resource Partnership was the investor.
Proceeds of the non-brokered placement will be used for the company's work program at Koillismaa-Naranka Nickel-Copper-PGE Project in Finland, TL Nickel-Copper Project in Labrador and for general working capital.
Nortec is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | Nortec Ventures Corp.
|
| Issue: | Shares and special warrants exercisable for shares
|
| Amount: | C$2.025 million
|
| Agent: | Non-brokered
|
| Pricing date: | March 26
|
| Settlement: | March 30
|
| Stock symbol: | TSX Venture: NVT
|
| Stock price: | C$0.17 at close March 23
|
|
|
| Shares
|
| Issue: | Shares
|
| Amount: | $1.38 million
|
| Shares: | 9.2 million
|
| Price: | C$0.15
|
| Warrants: | No
|
|
|
| Special warrants exchangeable for shares
|
| Issue: | Special warrants
|
| Amount: | $0.645 million
|
| Quantity: | 4.3 million
|
| Price: | C$0.15
|
| Warrants: | No
|
|
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