Offering will finance exploration, debt repayment and working capital
By Devika Patel
Knoxville, Tenn., March 12 - Northaven Resources Corp. said it plans a C$1 million private placement of stock.
The company will sell 15 million common shares at C$0.05 apiece, which is identical to the March 11 closing share price. It also will sell 4,166,667 flow-through common shares at C$0.06 apiece, a 20% premium to the March 11 closing share price.
Proceeds will be used for exploration, debt repayment and working capital.
Based in Vancouver, B.C., Northaven explores for gold and other metals.
| Issuer: | Northaven Resources Corp.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$1 million
|
| Warrants: | No
|
| Pricing date: | March 12
|
| Stock symbol: | TSX Venture: NTV
|
| Stock price: | C$0.05 at close March 11
|
| Market capitalization: | C$707,100
|
|
|
| Common stock
|
| Amount: | C$750,000
|
| Shares: | 15 million
|
| Price: | C$0.05
|
|
|
| Flow-through stock
|
| Amount: | C$250,000
|
| Shares: | 4,166,667
|
| Price: | C$0.06
|
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