By Sheri Kasprzak
New York, May 12 - Northern Canadian Minerals Inc. completed a C$3.5 million non-brokered private placement.
The company issued 7 million units of one share and one half-share warrant.
Each whole warrant associated with the deal is exercisable at C$0.65 for one year.
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
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| Amount: | C$3.5 million
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| Units: | 7 million
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| Price: | C$0.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.65
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| Placement agent: | Non-brokered
|
| Settlement date: | May 11
|
| Stock symbol: | TSX Venture: NCA
|
| Stock price: | C$0.55 at close May 11
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