Proceeds to be used for exploration and development of gold projects
By Devika Patel
Knoxville, Tenn., Sept. 10 - North Atlantic Resources Ltd. said it completed a private placement of units for C$1.96 million. The deal priced Aug. 25.
The company sold 7 million units of one common share and warrant at C$0.28 each.
Each warrant is exercisable at C$0.40 until Sept. 9, 2011. The strike price is a 21.21% premium to C$0.33, the Aug. 24 closing share price.
Proceeds will be used for exploration and development of the company's gold exploration projects in Mali and for general corporate purposes.
North Atlantic is a resource exploration company based in Toronto.
| Issuer: | North Atlantic Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.96 million
|
| Units: | 7 million
|
| Price: | C$0.28
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Sept. 9, 2011
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Aug. 25
|
| Settlement date: | Sept. 10
|
| Stock symbol: | TSX Venture: NAC
|
| Stock price: | C$0.36 at close Aug. 25
|
| Market capitalization: | C$24 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
