Non-brokered deal funds exploration, general working capital purposes
By Devika Patel
Knoxville, Tenn., Aug. 17 - Northern Gold Mining Inc. said it has negotiated a C$13 million non-brokered private placement of stock.
The company will sell 43,333,334 common shares at C$0.30 apiece, a 13.64% premium to the Aug. 16 closing share price of C$0.36.
Settlement is expected Aug. 21.
Proceeds will be used for exploration and general working capital purposes.
Northern Gold 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$13 million
|
| Shares: | 43,333,334
|
| Price: | C$0.30
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 17
|
| Settlement date: | Aug. 21
|
| Stock symbol: | TSX Venture: NGM
|
| Stock price: | C$0.36 at close Aug. 16
|
| Market capitalization: | C$50.68 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
