By Devika Patel
Knoxville, Tenn., July 23 - Nortec Ventures Corp. said it will conduct a C$1.08 million non-brokered private placement of units. This deal will be offered concurrently with the brokered placement for C$1.62 million, which priced July 7.
The company will sell 4 million units at C$0.27 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.45 for 18 months.
Proceeds will be used for general working capital purposes.
Nortec is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | Nortec Ventures Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.08 million
|
| Units: | 4 million
|
| Price: | C$0.27
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.45
|
| Agent: | Non-brokered
|
| Pricing date: | July 23
|
| Stock symbol: | TSX Venture: NVT
|
| Stock price: | C$0.29 at close July 23
|
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