New Issue: Northern Abitibi now to sell C$1.33 million of units through placement

By Devika Patel

Knoxville, Tenn., Feb. 1 - Northern Abitibi Mining Corp. said it has increased a non-brokered private placement of units to C$1.33 million. The deal priced for C$1.25 million on Jan. 26.

The company will now sell 5,275,000 flow-through units of one flow-through common share and a half-share warrant at C$0.16 apiece. It also will sell 3,233,333 units of one common share and a warrant at C$0.15 apiece.

Each whole warrant is exercisable at C$0.22 for two years.

Proceeds will be used for exploration and general working capital.

The mineral explorer is based in Calgary, Alta.

Issuer:	Northern Abitibi Mining Corp.
Issue:	Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a warrant
Amount:	C$1,329,000
Warrant expiration:	Two years
Warrant strike price:	C$0.22
Agent:	Non-brokered
Pricing date:	Jan. 26
Upsized:	Feb. 1
Stock symbol:	TSX Venture: NAI
Stock price:	C$0.15 at close Jan. 25
Market capitalization:	C$9.91 million
Flow-through units
Amount:	C$844,000
Units:	5,275,000
Price:	C$0.16
Warrants:	One half-share warrant per unit
Units
Amount:	C$485,000
Units:	3,233,333
Price:	C$0.15
Warrants:	One warrant per unit

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