Lead agent Wellington West has a C$2.5 million over-allotment option
By Devika Patel
Knoxville, Tenn., Dec. 16 - Northern Superior Resources Inc. said it plans a private placement of stock. It will raise C$7.5 million via lead agent Wellington West Capital Markets Inc. The agents have a C$2.5 million greenshoe.
The company will sell 9,375,000 common shares on a bought-deal basis. The shares will be sold at C$0.80 apiece, a 5.88% discount to C$0.85, the Dec. 15 closing share price.
Settlement is expected Jan. 12.
Proceeds will be used for exploration work on the company's gold projects and for general corporate purposes.
The Vancouver, B.C., company explores for gold.
Issuer: | Northern Superior Resources Inc.
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Issue: | Common shares
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Amount: | C$7.5 million
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Greenshoe: | C$2.5 million
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Shares: | 9,375,000
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Price: | C$0.80
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Warrants: | No
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Agents: | Wellington West Capital Markets Inc. (lead)
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Pricing date: | Dec. 16
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Settlement date: | Jan. 12
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Stock symbol: | TSX Venture: SUP
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Stock price: | C$0.81 at close Dec. 16
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Market capitalization: | C$109.3 million
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