By Devika Patel
Knoxville, Tenn., Feb. 25 - North Atlantic Resources Ltd. said it completed a non-brokered private placement of units for C$1.35 million. The deal priced on Feb. 3.
The company sold 8,999,666 units of one common share and warrant at C$0.15 each.
Each warrant is exercisable at C$0.25 until Aug. 25, 2011.
Proceeds will be used for exploration and development of the company's gold exploration 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 common share and one warrant
|
| Amount: | C$1,349,950
|
| Units: | 8,999,666
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Aug. 25, 2011
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 25
|
| Stock symbol: | TSX Venture: NAC
|
| Stock price: | C$0.16 at close Feb. 2
|
| Market capitalization: | C$6.96 million
|
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