Noront Resources 8,325,000-share private placement

2019-12-17 18:09 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Oct. 28, 2019.

Number of shares:  7.9 million flow-through common shares and 425,000 non-flow-through common shares

Purchase price:  25 cents per flow-through common share; 20 cents per non-flow-through common share

Warrants:  425,000 share purchase warrants to purchase 425,000 non-flow-through common shares

Warrant exercise price:  30 cents for a 24-month period

Number of placees:  11 placees

Finder's fee:  an aggregate of $3,900, 19,500 broker warrants and 491,250 non-flow-through common shares payable to Red Cloud Securities (Each broker warrant entitles the holder to acquire one common share at 20 cents for a period of 24 months.)

Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

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