By Devika Patel
Knoxville, Tenn., Oct. 31 - NPN Investment Group Inc. closed a non-brokered private placement of units, raising C$932,650. The deal priced on Aug. 16 for C$1.225 million.
The company sold 2,664,715 units of one share and one half-share warrant at C$0.35 per unit. It originally planned to sell 3.5 million units at that price. Each whole warrant will be exercisable at C$0.45 for two years.
As previously reported, expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares exceeds C$0.75 for 21 consecutive days.
The securities have a four-month hold period.
NPN is a mineral exploration and development company based in Vancouver, B.C.
| Issuer: | NPN Investment Group Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$932,650
|
| Units: | 2,664,715
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 16
|
| Settlement date: | Oct. 31
|
| Stock symbol: | TSX Venture: NPN
|
| Stock price: | C$0.355 at close Aug. 15
|
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