By Sheri Kasprzak
New York, Oct. 18 - North American Tungsten Corp. Ltd. has reduced the price and increased the number of shares it is offering in a private placement, bringing the total proceeds to C$5,008,500.
The company will now offer 4.77 million shares at C$1.05 each.
On Oct. 17, the company had announced its plans to raise up to C$5 million through the sale of 4 million shares at C$1.25 each.
A syndicate of placement agents led by Haywood Securities and Sprott Securities Inc. will place the deal.
Proceeds will be used for working capital.
Based in Vancouver, B.C., North American Tungsten is a mineral exploration company.
| Issuer: | North American Tungsten Corp. Ltd.
|
| Issue: | Stock
|
| Amount: | C$5,008,500
|
| Shares: | 4.77 million
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| Price: | C$1.05
|
| Warrants: | No
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| Placement agents: | Haywood Securities Inc., Sprott Securities Inc. (co-leads)
|
| Pricing date: | Oct. 17
|
| Amended: | Oct. 18
|
| Stock price: | C$1.20 at close Oct. 17
|
| Stock price: | C$1.13 at close Oct. 18
|
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