Deal funds Moss project, feasibility study, general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 25 - Northern Vertex Mining Corp. said it settled a C$3.4 million private placement of units. The deal priced for about C$5 million with a C$1.3 million greenshoe on Aug. 28.
The company sold 5,236,000 units of one common share and one half-share warrant at C$0.65 per unit.
Each whole warrant is exercisable at C$0.90 until Feb. 25, 2015. The strike price is a 38.46% premium to the Aug. 27 closing share price of C$0.65.
Proceeds will be used to advance the Moss project, including completing a feasibility study, 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$3,403,400
|
| Units: | 5,236,000
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Feb. 25, 2015
|
| Warrant strike price: | C$0.90
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 25
|
| Stock symbol: | TSX Venture: NEE
|
| Stock price: | C$0.65 at close Aug. 27
|
| Market capitalization: | C$34.17 million
|
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