Clarus could have sold for a number of reasons.
What I find odd is that today RCF is happily exchanging a debt of $11,330 for 38.55 cent shares. And on Jan.11 of this year we were told they happily took 1,240,846 common shares @ 39.71 cents per share.
You'd think they would have contacted Clarus and said ..."Hey, can we make a deal for those 32 cent shares you're selling?"
It seems to me RCF likes taking Noront shares at higher prices but doesn't want to help lift the current share price. Why?
===========================================
Noront Resources 29,391 shares for debt
2016-01-19 19:42 ET - Shares for Debt
The TSX Venture Exchange has accepted for filing the company's proposal to issue 29,391 common shares to settle outstanding debt for $11,330.
Number of creditors: one creditor
Insider: Resource Capital Fund V LP, $11,330, 29,391 shares at 38.55 cents
The company has issued a news release advising the shares have been issued and the debt being extinguished
====================================================
TORONTO, ON--(Marketwired - January 11, 2016) - Noront Resources Ltd. ("Noront") (TSX VENTURE: NOT) announces that payment of interest in the amount of $492,740, for the fourth quarter of 2015 pursuant to a loan agreement entered into between Noront and Resource Capital Funds V L.P. ("RCF") dated February 26, 2013 (the "Loan Agreement") and the bridge loan facility entered into between Noront and RCF dated June 3,2015, (the "Facility") has been satisfied by delivery of 1,240,846 common shares of the Company (the "Interest Shares") at an effective price of $0.3971 per Interest Share. The Interest Shares were delivered on January 11, 2016 subject to a four month hold period, expiring on May 11, 2016.
