Offering funds exploration and development of the Golden Bear Project
By Devika Patel
Knoxville, Tenn., Nov. 18 - Northern Gold Mining Inc. said it has negotiated a C$2 million non-brokered private placement of units.
The company will sell 40 million units of one common share and one warrant at C$0.05 per unit.
Each warrant is exercisable at C$0.10 for five years. The strike price is a 150% premium to the Nov. 15 closing share price of C$0.04.
Pierre Caland is expected to participate.
Settlement is expected Dec. 20.
Proceeds will be used for exploration and development of the Golden Bear Project 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: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 40 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Investor: | Pierre Caland
|
| Pricing date: | Nov. 18
|
| Settlement date: | Dec. 20
|
| Stock symbol: | TSX Venture: NGM
|
| Stock price: | C$0.04 at close Nov. 15
|
| Market capitalization: | C$9.78 million
|
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