Funds used for exploration of North Island Project on Vancouver Island
By Devika Patel
Knoxville, Tenn., Aug. 28 - Northisle Copper and Gold Inc. said it arranged a C$1 million private placement of units.
The company will sell 5,882,000 units of one common share and a half-share warrant at C$0.17 per unit. Each whole warrant is exercisable at C$0.25 for two years. The strike price is a 78.57% premium to the Aug. 27 closing share price of C$0.14.
Settlement is expected Sept. 7.
Proceeds will be used for exploration of Northisle's North Island Project on Vancouver Island and for general corporate purposes.
Northisle is a copper and gold exploration company based in Vancouver, B.C.
| Issuer: | Northisle Copper and Gold Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 5,882,000
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 7
|
| Stock symbol: | TSX Venture: NCX
|
| Stock price: | C$0.14 at close Aug. 27
|
| Market capitalization: | C$6.88 million
|
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