Best-efforts offering raises funds to develop the company’s business
By Devika Patel
Knoxville, Tenn., Aug. 11 – Northern Aspect Resources Ltd. said it will raise between C$700,000 and C$1 million in a private placement of subscription receipts.
The company will sell between 1.4 million and 2 million subscription receipts at C$0.50 apiece. The purchase price is identical to the Aug. 10 closing share price.
Each subscription receipt will be automatically converted into common share.
Settlement is expected in September.
The offering is being conducted on a commercially reasonable, best-efforts basis by M Partners Inc. in connection with the company’s planned acquisition of Blockchain Tech Ltd. which will constitute its qualifying transaction.
Proceeds will be used to develop the company’s business and for general working capital purposes.
The capital pool company is based in Calgary, Alta.
| Issuer: | Northern Aspect Resources Ltd.
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| Issue: | Subscription receipts
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| Amount: | C$700,000 (minimum), C$1 million (maximum)
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| Receipts: | 1.4 million (minimum), 2 million (maximum)
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| Price: | C$0.50
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| Warrants: | No
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| Agent: | M Partners Inc.
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| Pricing date: | Aug. 11
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| Stock symbol: | TSX Venture: NTH.H
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| Stock price: | C$0.50 at close Aug. 10
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| Market capitalization: | C$1.55 million
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