Non-brokered deal funds the Moss project, general corporate purposes
By Devika Patel
Knoxville, Tenn., March 31 – Northern Vertex Mining Corp. said it completed a C$2.55 million non-brokered private placement of units. The deal priced for C$2.5 million on Feb. 26.
The company sold 7,974,875 units of one common share and one warrant at C$0.32 per unit.
Each warrant is exercisable at C$0.50 until March 31, 2019. The strike price is a 47.06% premium to the Feb. 25 closing share price of C$0.34.
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$2,551,960
|
| Units: | 7,974,875
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| Price: | C$0.32
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| Warrants: | One warrant per unit
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| Warrant expiration: | March 31, 2019
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| Warrant strike price: | C$0.50
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| Agent: | Non-brokered
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| Pricing date: | Feb. 26
|
| Settlement date: | March 31
|
| Stock symbol: | TSX Venture: NEE
|
| Stock price: | C$0.34 at close Feb. 25
|
| Market capitalization: | C$22.25 million
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