Gold explorer sells equity to investors via agent Northern Securities
By Devika Patel
Knoxville, Tenn., Nov. 15 - Niogold Mining Corp. said it has arranged a private placement of units and stock via agent Northern Securities Inc. It will raise C$6 million. Northern Financial Corp. will participate.
The company will sell units of one share and one half-share warrant at C$0.32 each for C$4 million. The whole warrants are exercisable at C$0.48 each for two years. The warrant strike price represents a 41.18% premium to the Nov. 12 closing share price of C$0.34.
The company also will sell flow-through common shares at C$0.38 each for C$2 million. The price per share is an 11.77% premium to the Nov. 12 closing share price.
Based in Vancouver, B.C., NioGold is a gold exploration company.
| Issuer: | Niogold Mining Corp.
|
| Issue: | Units of one share and one half-share warrant, flow-through common shares
|
| Amount: | C$6 million
|
| Agent: | Northern Securities Inc.
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| Investor: | Northern Financial Corp.
|
| Pricing date: | Nov. 15
|
| Stock symbol: | TSX Venture: NOX
|
| Stock price: | C$0.34 at close Nov. 15
|
| Market capitalization: | C$24.78 million
|
|
|
| Units
|
| Amount: | C$4 million
|
| Price: | C$0.32
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.48
|
|
|
| Shares
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| Amount: | C$2 million
|
| Price: | C$0.38
|
| Warrants: | No
|
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