Noront Resources Announces Issuance of Interest Shares
January 10 2020 - 5:05PM
Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) announces that
payment of interest in the amount of $391,668 for the fourth
quarter of 2019 pursuant to a loan agreement entered into between
Noront and Resource Capital Funds V L.P. (“RCF”) dated February 26,
2013 (the "Loan Agreement") has been satisfied by delivery of
2,598,991 common shares of the Company (the “Interest Shares”) at
an effective price of $0.1507 per Interest Share. The Interest
Shares were delivered on January 10, 2020 subject to a four month
hold period, expiring on May 11, 2020.
The calculation of the number of Interest Shares
issued was based on the volume weighted average trading price of
the common shares of the Company during the 20 trading days prior
to December 30, 2019.
After giving effect to the issuance of the
Interest Shares, there are 409,658,719 common shares of the Company
issued and outstanding.
About Noront Resources Noront 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:
Greg Rieveleygreg.rieveley@norontresources.com
(416) 367-1444
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