Non-brokered offering funds exploration; shares sold at C$0.10 apiece
By Devika Patel
Knoxville, Tenn., Dec. 30 – Northern Spirit Resources Inc. said it completed a C$1 million private placement of stock with a C$75,000 tranche.
The company sold 10 million flow-through common shares at C$0.10 apiece, which is a 25% premium to the Dec. 29 closing share price of C$0.06. It sold 750,000 shares in the final tranche.
Proceeds will be used for exploration.
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: | 10 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Settlement date: | Dec. 30 (for C$75,000)
|
| Stock symbol: | TSX Venture: NS
|
| Stock price: | C$0.06 at close Dec. 29
|
| Market capitalization: | C$26.4 million
|
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