By Sheri Kasprzak
Atlanta, Nov. 19 - Normabec Mining Resources Ltd. said Friday it has raised C$1.5 million in a private placement.
The non-brokered deal consists of 8,333,333 flow-through shares at C$0.18 each plus one half-share warrant per share.
The whole warrants allow for the purchase of an additional share at C$0.22 for 18 months.
Based in St. Bruno, Que., Normabec is a gold and platinum-palladium mining exploration company. It plans to use the proceeds from the private placement for a drilling program on the Pitt gold property.
| Issuer: | Normabec Mining Resources Ltd.
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| Issue: | Flow-through shares and warrants
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| Amount: | C$1.5 million
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| Shares: | 8,333,333 units
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| Price: | C$0.18
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| Warrants: | One half-share warrant per flow-through share
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.22
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| Announcement date: | Nov. 19
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| Stock price: | C$0.14 at close Nov. 17 (last trade)
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