By Sheri Kasprzak
Atlanta, April 1 - Northern Star Mining Corp. said it has increased its previously announced private placement to C$5,500,150 from C$4.5 million.
The company will now sell 6,667,000 flow-through shares at C$0.45 each and 6.25 million non flow-through units at C$0.40 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.50 each for 18 months.
The deal was announced March 8 and included up to 10 million units at C$0.45 each. The price of the warrants was reduced from C$0.55 each.
The deal is being placed through a syndicate of agents including Canaccord Capital Corp. and Octagon Capital Corp. The syndicate will have an over-allotment option for up to C$1.5 million in any combination of flow-through shares and units.
Based in Vancouver, B.C., Northern Star is a gold exploration company. It plans to use the proceeds for exploration on its Midway project and for working capital.
| Issuer: | Northern Star Mining Corp.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$5,500,150
|
| Placement agents: | Canaccord Capital Corp. and Octagon Capital Corp.
|
| Pricing date: | March 8
|
| Upsized: | April 1
|
| Stock price: | C$0.48 at close March 8
|
| Stock price: | C$0.40 at March 31
|
|
|
| Flow-through shares
|
| Issue: | Flow-through shares
|
| Shares: | 6,667,000
|
| Price: | C$0.45
|
| Warrants: | No
|
|
|
| Units
|
| Issue: | Units of one share and one half-share warrant
|
| Units: | 6.25 million (maximum)
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
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