By Sheri Kasprzak
New York, Oct. 12 - Northern Star Mining Corp. said it has arranged a private placement for up to C$7 million.
The offering includes up to 11,111,111 flow-through shares at C$0.45 each and up to 5 million non flow-through units at C$0.40 each.
The units are composed of one share and one half-share warrant. The whole warrants are exercisable at C$0.50 each for two years.
Placement agent MGI Securities has an over-allotment option for up to C$2 million, in any combination of units or flow-through shares.
The proceeds will be used for exploration on the company's Midway project. The rest will be used for working capital.
Based in Vancouver, B.C., Northern Star is a mineral exploration company.
| Issuer: | Northern Star Mining Corp.
|
| Issue: | Flow-through shares and units of one non flow-through share and one half-share warrant
|
| Amount: | C$7 million (maximum)
|
| Greenshoe: | For up to C$2 million
|
| Placement agent: | MGI Securities
|
| Pricing date: | Oct. 12
|
| Stock price: | C$0.395 at close Oct. 11
|
|
|
| Flow-through shares
|
| Shares: | 11,111,111 (maximum)
|
| Price: | C$0.45
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 5 million (maximum)
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
