Non-brokered deal to fund the Moss project, general corporate purposes
By Devika Patel
Knoxville, Tenn., June 29 – Northern Vertex Mining Corp. said it increased its non-brokered private placement of units to C$2.64 million from C$1.5 million. The deal priced on June 15.
The company will now sell about 12 million units of one common share and one warrant at C$0.22 per unit.
Each warrant is exercisable at C$0.45 for two years. The strike price is a 104.55% premium to the June 12 closing share price of C$0.22.
Proceeds will be used to advance the Moss Mine Gold-Silver property and for general corporate purposes.
Based in Vancouver, B.C., Northern Vertex is a gold explorer.
| Issuer: | Northern Vertex Mining Corp.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$2.64 million
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| Units: | 12 million (approximate)
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| Price: | C$0.22
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.45
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| Agent: | Non-brokered
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| Pricing date: | June 15
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| Upsized: | June 29
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| Stock symbol: | TSX Venture: NEE
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| Stock price: | C$0.22 at close June 12
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| Market capitalization: | C$16.05 million
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