By Sheri Kasprzak
New York, April 5 - Normabec Mining Resources Ltd. said it has arranged a C$1 million private placement.
The non-brokered deal includes up to 5,263,157 units at C$0.19 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.25 each for 18 months.
The expiry of the warrants will by accelerated to 30 days if the company's stock trades above C$0.40 for more than 20 consecutive trading days.
Proceeds will be used for exploration on the company's Real de Catorce property in Mexico and for working capital.
Based in St-Bruno, Quebec, Normabec is a mineral exploration company.
| Issuer: | Normabec Mining Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1 million (maximum)
|
| Units: | 5,263,157 (maximum)
|
| Price: | C$0.19
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 4
|
| Stock symbol: | TSX Venture: NMB
|
| Stock price: | C$0.305 at close April 4
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