Non-brokered deal to fund the Moss project, general corporate purposes
By Devika Patel
Knoxville, Tenn., July 9 – Northern Vertex Mining Corp. said its non-brokered private placement of units was oversubscribed and raised C$2.86 million. The deal priced for C$1.5 million on June 15 and was increased to C$2.64 million on June 29.
The company sold 13,015,000 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.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,863,300
|
| Units: | 13,015,000
|
| Price: | C$0.22
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Agent: | Non-brokered
|
| Pricing date: | June 15
|
| Upsized: | June 29
|
| Settlement date: | July 9
|
| Stock symbol: | TSX Venture: NEE
|
| Stock price: | C$0.22 at close June 12
|
| Market capitalization: | C$14.59 million
|
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