By Laura Lutz
Des Moines, Jan. 18 - North Atlantic Resources Ltd. announced terms for its previously announced private placement of shares for C$4,114,935.
The company plans to sell 3,048,100 units of one share and one half-share warrant at C$1.35 per unit. Each whole warrant will be exercisable at C$1.80 for two years.
Blackmont Capital Inc. will act as lead agent.
The deal was first announced on Jan. 10 as an offering of up to C$5 million. Settlement is expected on Feb. 7.
Proceeds will be used for exploration and development of the company's gold projects in Mali and for general corporate purposes.
North Atlantic is a resource exploration company based in Toronto.
| Issuer: | North Atlantic Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4,114,935
|
| Units: | 3,048,100
|
| Price: | C$1.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.80
|
| Agent: | Blackmont Capital Inc.
|
| Announcement date: | Jan. 10
|
| Pricing date: | Jan. 18
|
| Settlement date: | Feb. 7
|
| Stock symbol: | Toronto: NAC
|
| Stock price: | C$1.50 at close Jan. 18
|
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