VANCOUVER, BC, March 2, 2022 /CNW/ - Norra Metals Corp.
("Norra" or the "Company") (TSXV: NORA) (FSE: 1KO)
(OTC: NRRMF) is pleased to announce it is completing its first
tranche of its non-brokered private placement financing for total
gross proceeds of $304,150 by the
sale of 4,679,232 units at a price of $0.065 per unit (please refer to Norra's news
release dated January 17, 2022) and
due to an increase in demand, has increased the total private
placement financing by an additional $100,000 to a total of $750,000 and in furtherance of same re-announces
its private placement of units at $0.065 per unit, where each unit comprises one
common share and one-half of one common share purchase warrant.
Each full warrant will entitle the holder to purchase one
additional common share of the Company for a period of 24 months at
a price of $0.12 per share, in
accordance with the policies of the TSX Venture Exchange. The funds
will be used for the Company's working capital. Finders' fees shall
be paid in cash, or warrants, or a combination of the foregoing,
subject to board approval and in accordance with the policies of
the TSX Venture Exchange.
The Company intends to use the net proceeds to fund the
exploration expenditures at the Company's exploration assets in
Norway and for working capital
purposes. All securities issued from this offering will be
subject to a 4 month and one day hold period from date of
issuance.
About Norra Metals
Norra Metals Corp. (TSXV: NORA) (FSE: 1KO) (OTC: NRRMF) is a
Canadian-based precious and base metals exploration company. The
Company's Norwegian assets include the past-producing Bleikvassli
polymetallic, zinc-copper-lead-silver underground mine project and
the high-grade Meråker copper-zinc- gold exploration project. The
Company also holds a 100% interest in the Pyramid copper-gold
porphyry project located in Northwest
British Columbia. For more information, please visit
www.norrametals.com.
ON BEHALF OF THE BOARD OF NORRA
METALS CORP.
Per: "Minaz Devji"
Minaz
Devji,
CEO and Director
This press release contains "forward-looking information" that
is based on the Company's current expectations, estimates,
forecasts, and projections. This forward-looking information
includes, among other things, statements with respect to the
Company's exploration and development plans. The words "will",
"anticipated", "plans" or other similar words and phrases are
intended to identify forward-looking information. Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the Company's actual results,
level of activity, performance, or achievements to be materially
different from those expressed or implied by such forward looking
information.
Neither the Canadian Securities Exchange nor its
Regulation Services Provider accept responsibility for the adequacy
or accuracy of this release.
SOURCE Norra Metals Corp.