Non-brokered offering's funds slated for exploration and development
By Devika Patel
Knoxville, Tenn., Dec. 9 - Northern Spirit Resources Inc. said it will conduct a C$1 million private placement of stock.
The company will sell 13,333,333 flow-through common shares at C$0.075 apiece, which is a 25% premium to the Dec. 6 closing share price of C$0.06.
Settlement is expected Dec. 31.
Proceeds will be used for exploration and development.
Northern Spirit is a Calgary, Alta., oil and gas exploration and production company.
Issuer: | Northern Spirit Resources Inc.
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Issue: | Flow-through common shares
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Amount: | C$1 million
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Shares: | 13,333,333
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Price: | C$0.075
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Warrants: | No
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Pricing date: | Dec. 9
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Settlement date: | Dec. 31
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Stock symbol: | TSX Venture: NS
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Stock price: | C$0.06 at close Dec. 6
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Market capitalization: | C$18.15 million
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