By Devika Patel
Knoxville, Tenn., Nov. 15 - Norsemont Mining Inc. said it has settled a C$18.01 million private placement of special warrants. The deal priced on Nov. 1 for C$15.66 million with a C$2,349,000 greenshoe that the company said was fully exercised.
The company sold 5.4 million special warrants at C$2.90 apiece, along with another 810,000 warrants at the same price for the over-allotment option for a total of 6.21 million warrants. Each warrant is exchangeable at no additional cost for one unit. Each unit consists of one common share and one half share warrant. Each whole warrant is exercisable at C$3.50 for two years.
The deal was conducted by a syndicate of underwriters led by Paradigm Capital Inc. and including Salman Partners Inc., Blackmont Capital Inc. and Haywood Securities Inc.
Proceeds will be used for development and general corporate purposes.
Based in Vancouver, B.C., Norsemont is a natural resource company.
| Issuer: | Norsemont Mining Inc.
|
| Issue: | Special warrants exercisable for units of one common share and one half-share warrant
|
| Amount: | C$18,009,000
|
| Special warrants: | 6.21 million
|
| Price: | C$2.90
|
| Warrants: | One half warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.50
|
| Underwriter: | Paradigm Capital Inc. (lead), Salman Partners Inc., Blackmont Capital Inc., Haywood Securities Inc.
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 15
|
| Stock symbol: | Toronto: NOM
|
| Stock price: | C$3.32 at close Oct. 31
|
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