Non-brokered deal to fund the Moss project, general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 26 - Northern Vertex Mining Corp. said it settled a C$9.15 million non-brokered private placement of units. The deal priced for C$7.5 million with a C$2.5 million greenshoe on Nov. 13.
The company sold 7,319,000 units of one common share and one half-share warrant at C$1.25 per unit. Of the units, 1,319,000 were part of the partially exercised greenshoe.
Each whole warrant is exercisable at C$1.75 for two years. The strike price is a 26.81% premium to the Nov. 12 closing share price of C$1.38.
Proceeds will be used to advance the Moss project, to maintain other projects and for general corporate purposes.
Based in Vancouver, B.C., Northern Vertex is a gold explorer.
| Issuer: | Northern Vertex Mining Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$9,148,750 (including C$1,648,750 greenshoe)
|
| Units: | 7,319,000
|
| Price: | C$1.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.75
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 26
|
| Stock symbol: | TSX Venture: NEE
|
| Stock price: | C$1.38 at close Nov. 12
|
| Market capitalization: | C$61.08 million
|
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