Northland Resources plans private placement

By Sheri Kasprzak

New York, March 20 - Northland Resources Inc. said it intends to conduct a PIPE in the coming weeks through placement agent Pareto Private Equity ASA.

The offering will be made to institutional and professional investors in London and Oslo, Norway, but the pricing terms have not yet been established.

The first tranche of the deal is expected to close in April. There also will be a second tranche.

Northland expects its shares to begin trading on the Oslo Stock Exchange in the third quarter.

Proceeds from the placement will be used for exploration on the company's projects in Sweden and Finland.

Based in Vancouver, B.C., Northland is mineral exploration company focused on iron, gold and base metals.

On Monday, the company's stock closed up C$0.11 to end at C$1.08 (TSX Venture: NAU).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.