Non-brokered deal funds exploration, general working capital purposes
By Devika Patel
Knoxville, Tenn., July 18 - Northern Gold Mining Inc. said it has arranged a C$5 million non-brokered private placement of stock.
The company will sell 20 million common shares at C$0.25 apiece, a 13.64% premium to the July 17 closing share price of C$0.22.
Settlement is expected on July 20.
Proceeds will be used for exploration and general working capital purposes.
Northern Gold Mining is a Toronto junior resource company focused on the acquisition and exploration of base and precious metal mineral properties.
| Issuer: | Northern Gold Mining Inc.
|
| Issue: | Common shares
|
| Amount: | C$5 million
|
| Shares: | 20 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 18
|
| Settlement date: | July 20
|
| Stock symbol: | TSX Venture: NGM
|
| Stock price: | C$0.22 at close July 17
|
| Market capitalization: | C$34.31 million
|
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