Non-brokered deal was oversubscribed, sold 9,053,297 units at C$0.15
By Devika Patel
Knoxville, Tenn., July 5 – Northern Empire Resources Corp. said it settled a C$1.36 million oversubscribed non-brokered private placement of units.
The company sold 9,053,297 units of one common share and one half-share warrant at C$0.15 per unit.
Each whole warrant is exercisable at C$0.25 until Jan. 5, 2018. The strike price reflects a 38.89% premium to the July 4 closing share price of C$0.18.
Proceeds will be used to advance the company’s portfolio of gold exploration projects and for general corporate purposes.
The natural resource company is based in Vancouver, B.C.
| Issuer: | Northern Empire Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,357,995
|
| Units: | 9,053,297
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Jan. 5, 2018
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Settlement date: | July 5
|
| Stock symbol: | TSX Venture: NM
|
| Stock price: | C$0.18 at close July 4
|
| Market capitalization: | C$3.46 million
|
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