Non-brokered deal finances exploration, general corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 15 - Northaven Resources Corp. said it raised C$743,500 in the initial tranche of a C$1.25 million non-brokered private placement of units. The deal priced July 27.
The company is selling 500,000 flow-through shares at C$0.19 per share, 3,275,000 super flow-through units of one super flow-through common share and a half-share warrant at C$0.20 per unit and 3,333,333 non flow-through units of one non flow-through common share and a half-share warrant at C$0.15 per unit.
It sold 455,000 flow-through shares, 2,174,500 flow-through units and 2,629,500 non flow-through units in the first tranche.
The super flow-through unit warrants are exercisable at C$0.30 for two years. The non flow-through unit warrants are exercisable at C$0.25 for two years. The warrant strike prices are 100% and 66.67% premiums to the July 26 closing share price of C$0.15. The price per flow-through share is a 26.67% premium to that price.
Proceeds will be used for exploration and general corporate purposes.
Based in Vancouver, B.C., Northaven explores for gold and other metals.
| Issuer: | Northaven Resources Corp.
|
| Issue: | Flow-through shares, super flow-through units of one super flow-through common share and a half-share warrant, non flow-through units of one non flow-through common share and a half-share warrant
|
| Amount: | C$1.25 million
|
| Agent: | Non-brokered
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 15 (for C$743,500)
|
| Stock symbol: | TSX Venture: NTV
|
| Stock price: | C$0.15 at close July 27
|
| Market capitalization: | C$4.85 million
|
|
|
| Flow-through shares
|
| Amount: | C$95,000
|
| Shares: | 500,000
|
| Price: | C$0.19
|
| Warrants: | No
|
|
|
| Super flow-through units
|
| Amount: | C$655,000
|
| Units: | 3,275,000
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
|
|
| Non flow-through units
|
| Amount: | C$500,000
|
| Units: | 3,333,333
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
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