By Sheri Kasprzak
New York, May 8 - Northwestern Mineral Ventures Inc. has settled its previously announced private placement for C$17,972,423, which includes a partially exercised over-allotment option.
The company issued 21,144,027 units at C$0.85 each, including the greenshoe for 3,496,968 units exercised by a syndicate of agents led by Westwind Partners Inc. and Toll Cross Securities Inc. and including Blackmont Capital Inc.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$1.15 through May 5, 2008.
The expiry of the warrants may be extended to May 5, 2011 if Northwestern becomes a tier 1 company before May 5, 2008.
The deal priced on April 7 as a C$15 million offering of 17,647,059 units. The agents had originally been granted a greenshoe for up to 5,882,353 units.
Proceeds will be used for exploration on the company's properties in Niger, Canada and Mexico.
Based in Toronto, Northwestern is a mineral exploration company.
| Issuer: | Northwestern Mineral Ventures Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$17,972,423
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| Units: | 21,144,027 (includes greenshoe for 3,496,968 units)
|
| Price: | C$0.85
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | May 5, 2008
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| Warrant strike price: | C$1.15
|
| Placement agents: | Westwind Partners Inc. (lead), Toll Cross Securities Inc. (lead), Blackmont Capital Inc.
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| Pricing date: | April 7
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| Settlement date: | May 8
|
| Stock symbol: | TSX Venture: NWT
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| Stock price: | C$1.02 at close April 7
|
| Stock price: | C$1.01 at close May 5
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