Offering funds exploration on 3Ace Property in the southeast Yukon
By Devika Patel
Knoxville, Tenn., Dec. 15 - Northern Tiger Resources Inc. said it plans a non-brokered private placement of units and stock. It will raise C$3 million.
The company will sell units of one common share and one half-share warrant at C$0.35 per unit. Each whole warrant will be exercisable at C$0.45 for two years. Northern Tiger will also sell flow-through common shares at C$0.40 apiece.
The price per share is an 11.11% premium to the Dec. 14 closing share price of C$0.36. The warrant strike price is a 25% premium to that price.
Proceeds will be used for exploration on Northern Tiger's 3Ace Property in the southeast Yukon.
The resource exploration company is based in Calgary, Alta.
| Issuer: | Northern Tiger Resources Inc.
|
| Issue: | Units of one common share and a half-share warrant, flow-through common shares
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| Amount: | C$3 million
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| Agent: | Non-brokered
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| Pricing date: | Dec. 15
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| Stock symbol: | TSX Venture: NTR
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| Stock price: | C$0.36 at close Dec. 14
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| Market capitalization: | C$21.86 million
|
|
|
| Units
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| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
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| Warrant strike price: | C$0.45
|
|
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| Stock
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| Price: | C$0.40
|
| Warrants: | No
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