By Sheri Kasprzak
New York, June 27 - Northern Sun Exploration Co. Inc. priced a C$4 million private placement of flow-through and non flow-through units.
The offering includes up to 2 million non flow-through units at C$0.50 each and up to 5,454,545 flow-through units at C$0.55 each.
The non flow-through units consist of one share and one warrant. Each warrant is exercisable at C$0.85 for 18 months.
The flow-through units are comprised of one share and one warrant with each warrant exercisable at C$0.85 for 18 months.
The deal is not brokered.
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.
|
| Issue: | Flow-through and non flow-through units of one share and one warrant
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| Amount: | C$4 million
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| Placement agent: | Non-brokered
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| Pricing date: | June 27
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| Stock symbol: | TSX Venture: NSE
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| Stock price: | C$0.47 at close June 26
|
|
|
| Flow-through units
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| Units: | 5,454,545
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| Price: | C$0.55
|
| 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 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
|
| Warrant strike price: | C$0.85
|
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