North Atlantic Resources to price C$5 million placement of units

By Laura Lutz

Des Moines, Jan. 10 - North Atlantic Resources Ltd. plans to conduct a private placement of units for up to C$5 million.

The company plans to sell units of one share and one half-share warrant. The company expects to set pricing of the units and terms of the warrants in the next few days, and settlement is expected within 45 days.

Blackmont Capital Inc. will act as lead agent.

Proceeds will be used for exploration and development of the company's gold projects in Mali and for general corporate purposes.

North Atlantic is a resource exploration company based in Toronto.

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