By Susanna Moon
Chicago, Sept. 8 - Nortec Ventures Corp. said it settled a C$309,100 second and final tranche of a non-brokered private placement of units, which priced for C$1.08 million on July 23.
Nortec sold 1,144,815 units at C$0.27 on Monday. The company raised C$770,900 on Aug. 15 from the initial tranche. The company issued a total of 4 million units at C$0.27 each.
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 working capital.
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
|
| Settlement date: | Aug. 15 (for C$770,900); Sept. 8 (for C$309,100)
|
| Stock symbol: | TSX Venture: NVT
|
| Stock price: | C$0.29 at close July 23
|
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