Northland Capital Partners is the agent; deal offer two types of units
By Devika Patel
Knoxville, Tenn., May 6 - Northquest Ltd. said it settled a C$2.72 million private placement of units through agent NCP Northland Capital Partners Inc. The deal priced for C$6 million with a C$900,000 greenshoe on April 5.
The company sold 435,000 units at C$0.80 apiece and 2,257,423 flow-through units at C$1.05 per flow-through unit.
Each unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$1.65. Each flow-through unit consists of one flow-through common share and one half-share warrant. Each whole warrant will be exercisable at C$1.50 until May 6, 2013.
The strike prices are 65% and 50% premiums to the April 4 closing share price of C$1.00.
Northquest is a Toronto-based gold exploration company.
| Issuer: | Northquest Ltd.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$2,718,294
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 6, 2013
|
| Agent: | NCP Northland Capital Partners Inc.
|
| Pricing date: | April 5
|
| Settlement date: | May 6
|
| Stock symbol: | TSX Venture: NQ
|
| Stock price: | C$1.00 at close April 5
|
| Market capitalization: | C$18.98 million
|
|
|
| Units
|
| Amount: | C$348,000
|
| Units: | 435,000
|
| Price: | C$0.80
|
| Warrant strike price: | C$1.65
|
|
|
| Flow-through units
|
| Amount: | C$2,370,294
|
| Units: | 2,257,423
|
| Price: | C$1.05
|
| Warrant strike price: | C$1.50
|
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