By Sheri Kasprzak
New York, July 27 - Northern Sun Exploration Co. Inc. wrapped its previously announced private placement for C$4,374,443.
The company sold 2.5 million non flow-through units at C$0.50 each and 5,680,811 flow-through units at C$0.55 each.
Both the flow-through and non flow-through units consist of one share and one warrant each. The warrants for each are exercisable at C$0.85 for 18 months.
The non-brokered deal priced on June 27 as a C$4 million offering of 2 million non flow-through units and 5,454,545 flow-through units. It was upsized on July 25 as a C$4.4 million offering of 2.5 million non flow-through units and 5,727,273 flow-through units.
Proceeds will be used for exploration on properties in Alberta, Saskatchewan and the Northwest Territories.
Vancouver, B.C.-based Northern Sun is a mineral exploration company.
Issuer: | Northern Sun Exploration Co. Inc.
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Issue: | Flow-through and non flow-through units of one share and one warrant
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Amount: | C$4,374,443
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Placement agent: | Non-brokered
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Pricing date: | June 27
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Upsized: | July 25
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Settlement date: | July 27
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Stock symbol: | TSX Venture: NSE
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Stock price: | C$0.47 at close June 26
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Stock price: | C$0.44 at close July 25
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Stock price: | C$0.45 at close July 27
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Flow-through units
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Units: | 5,680,811
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Price: | C$0.55
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Warrants: | One warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.85
|
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Non flow-through units
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Units: | 2.5 million
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Price: | C$0.50
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Warrants: | One warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.85
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