Northern Peru cancels C$23.76 million private placement of shares

By Laura Lutz

Des Moines, March 21 - Northern Peru Copper Corp. terminated its previously announced C$23.76 million private placement of shares.

The deal was canceled after the company received information about its Galeno project in Peru. Northern Peru said the information "will require the company to update its technical disclosure and may result in the potential consolidation of interests related to the project."

The placement, which priced on Feb. 14, was to include shares at C$0.60 each.

A syndicate led by Raymond James Ltd. and including Salman Partners Inc. and Canaccord Capital Corp. had agreed to act as underwriters.

The underwriters have a greenshoe for up to 15% of the placement, exercisable until 30 days after the closing date.

Northern Peru is a resource exploration company based in Vancouver, B.C.

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