By Devika Patel
Knoxville, Tenn., Dec. 23 - Northern Superior Resources Inc. said it settled a C$3.19 million private placement of units.
The deal priced for C$3 million on Dec. 7 and was increased to C$3.6 million on Dec. 14.
The company sold 26,581,165 units of a flow-through common share and a half-share warrant at C$0.12 per unit.
Each whole two-year warrant will be exercisable at C$0.16 in the first year and at C$0.20 in the second.
Proceeds will be used for exploration.
The Vancouver, B.C., company explores for gold.
| Issuer: | Northern Superior Resources Inc.
|
| Issue: | Units of a flow-through common share and a half-share warrant
|
| Amount: | C$3,189,740
|
| Units: | 26,581,165
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.16 in the first year, C$0.20 in the second
|
| Pricing date: | Dec. 7
|
| Upsized: | Dec. 14
|
| Settlement date: | Dec. 23
|
| Stock symbol: | TSX Venture: SUP
|
| Stock price: | C$0.12 at close Dec. 4
|
| Market capitalization: | C$9.25 million
|
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