By Devika Patel
Knoxville, Tenn., Sept. 12 - Northern Peru Copper Corp. announced it has entered into an agreement with a syndicate of underwriters led by Raymond James Ltd. and including Salman Partners Inc. and Canaccord Adams for a C$11.011 million private placement of stock. The company also plans to raise C$5 million in an additional non-brokered placement of shares, for a total of C$16.011 million.
In the first deal, the company will sell 1,210,000 common shares at C$9.10 apiece. The 549,450 common shares in the second placement will be sold at the same price.
Closing is expected around Sept. 26.
Finder's fees will be paid on a portion of the non-brokered placement.
Proceeds will be used to fund a feasibility study on the company's Galeno project, for the acquisition of certain surface rights, for exploration programs, to repay a loan provided to the company, to make payments for additional mineral rights and for general corporate purposes.
Northern Peru is a resource exploration company based in Vancouver, B.C.
| Issuer: | Northern Peru Copper Corp.
|
| Issue: | Shares
|
| Amount: | C$11.011 million (first placement); C$5 million (second placement)
|
| Shares: | 1,210,000 (first placement); 549,450 (second placement)
|
| Price: | C$9.10
|
| Warrants: | No
|
| Underwriters: | Raymond James Ltd. (lead), Salman Partners Inc., Canaccord Capital Corp. (first placement); non-brokered (second placement)
|
| Pricing date: | Sept. 12
|
| Stock symbol: | Toronto: NOC
|
| Stock price: | C$9.78 at close Sept. 12
|
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