Noront Resources Closing of Private Placement of Flow-Through Shares
September 19 2017 - 4:46PM
(Previously released on Friday, September 15,
2017)
Noront Resources Ltd. (“Noront”) (TSX Venture:NOT) announced on
Friday September 15, 2017 the closing of a private placement of
9,239,000 flow-through shares at a price of $0.40 per flow-through
share for gross proceeds of $3,695,600 (the “Offering”). The
Company intends to use the proceeds for it exploration program in
the Ring of Fire.
The shares will be “flow-through” shares
pursuant to the Income Tax Act (Canada). The flow-through
shares are subject to a statutory hold period of four months plus
one day which will expire on January 16, 2018.
In connection with the Offering, EMD Financial
Inc. received a cash finder’s fee equal to 5% of the gross proceeds
up to $2.5 million and a finder’s fee, paid in shares, of 6% of the
gross proceeds in excess of $2.5 million. There were 217,381
common shares issued at a price of $0.33 per common share in
satisfaction of the share component of the finder’s fee. The
common shares are subject to a statutory hold period of four months
plus one day which will expire on January 16, 2018.
About Noront ResourcesNoront Resources Ltd. is focused on the
development of its high-grade Eagle’s Nest nickel, copper, platinum
and palladium deposit and the world class chromite deposits
including Blackbird, Black Thor, and Big Daddy, all of which are
located in the James Bay Lowlands of Ontario in an emerging metals
camp known as the Ring of Fire. www.norontresources.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
For more information:Janice
Mandel janice.mandel@stringcom.com (647) 300-3853
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