By Laura Lutz
Des Moines, June 19 - Northland Resources Inc. is preparing to close a slightly downsized private placement of shares for NOK 604,001,250.
Investors have subscribed for 22,792,500 shares at NOK 26.50 each, a 4% discount to the closing price of the company's stock on the Oslo exchange on Monday.
On Monday, the deal priced as an offering of 22,795,894 shares for proceeds of NOK 604,091,191. The original greenshoe for up to 6,838,768 shares has been dropped from the downsized offering.
Pareto Securities ASA is the agent.
Proceeds will be used for investment in the company's iron-copper-gold projects in Sweden and Finland as well as for general corporate purposes.
Northland is an exploration company based in Vancouver, B.C.
| Issuer: | Northland Resources Inc.
|
| Issue: | Shares
|
| Amount: | NOK 604,001,250
|
| Shares: | 22,792,500
|
| Price: | NOK 26.50
|
| Warrants: | No
|
| Agent: | Pareto Securities ASA
|
| Pricing date: | June 18
|
| Amended: | June 19
|
| Stock symbol: | TSX Venture: NAU
|
| Stock price: | C$5.00 at close June 15
|
| Stock price: | C$4.89 at close June 18
|
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