New Issue: Norwood Resources arranges C$10.66 million placement of units

By Devika Patel

Knoxville, Tenn., Feb. 19 - Norwood Resources Ltd. said it plans to conduct a C$10.66 million non-brokered private placement of units.

The company will sell 21,329,348 units of one share and one warrant at C$0.50 per unit. Each warrant will be exercisable at C$0.60 for one year.

Proceeds will be used for exploration, development and general working capital.

Based in Vancouver, B.C., Norwood is an oil and natural gas exploration company.

Issuer:	Norwood Resources Ltd.
Issue:	Units of one share and one warrant
Amount:	C$10,664,674
Units:	21,329,348
Price:	C$0.50
Warrants:	One warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$0.60
Agent:	Non-brokered
Pricing date:	Feb. 15
Stock symbol:	TSX Venture: NRS
Stock price:	C$0.57 at close Feb. 15

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