By Laura Lutz
Des Moines, Sept. 26 - Northland Resources Inc. arranged a private placement of stock for NOK 176,196,750.
The company plans to sell 24.303 million shares to non-Canadian investors for NOK 7.25 each.
Pareto Securities ASA and Pareto Private Equity ASA will act as agents for the deal.
Proceeds will be used for working capital to meet the listing requirements of the Oslo Stock Exchange and for drilling, exploration and operations on the company's projects in Sweden and Finland.
Northland Resources is an iron, gold and base metal exploration company based in Vancouver, B.C.
| Issuer: | Northland Resources Inc.
|
| Issue: | Stock
|
| Amount: | NOK 176,196,750
|
| Shares: | 24.303 million
|
| Price: | NOK 7.25
|
| Warrants: | No
|
| Agents: | Pareto Securities ASA and Pareto Private Equity ASA
|
| Pricing date: | Sept. 26
|
| Stock symbol: | TSX Venture: NAU
|
| Stock price: | C$1.20 at close on Sept. 25
|
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