By Sheri Kasprzak
New York, April 11 - Northern Canadian Minerals Inc. said it plans to raise C$1,456,000 in a non-brokered private placement.
The deal includes up to 2.8 million units of one share and one half-share warrant at C$0.52 each.
The whole warrants are exercisable at C$0.68 each for one year.
Proceeds will be used for exploration, development and acquisition of uranium properties.
Based in Vancouver, B.C., Northern Canadian is a mineral exploration company.
| Issuer: | Northern Canadian Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,456,000 (maximum)
|
| Units: | 2.8 million (maximum)
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| Price: | C$0.52
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
|
| Warrant strike price: | C$0.68
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 10
|
| Stock symbol: | TSX Venture: NCA
|
| Stock price: | C$0.68 at close April 11
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