Non-brokered offering's funds slated for exploration and development
By Devika Patel
Knoxville, Tenn., Dec. 20 - Northern Spirit Resources Inc. said it raised C$549,995 in the first tranche of a C$1 million private placement of stock. The deal priced on Dec. 9.
The company is selling 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. It sold 7,333,266 shares in the initial tranche.
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.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1 million
|
| Shares: | 13,333,333
|
| Price: | C$0.075
|
| Warrants: | No
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 20 (for C$549,995)
|
| Stock symbol: | TSX Venture: NS
|
| Stock price: | C$0.06 at close Dec. 6
|
| Market capitalization: | C$26.4 million
|
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