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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile

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Northern Vertex Mining Corp Announces $5 Million Private Placement Financing

Wednesday, 28 Aug 2013 09:33am EDT 

Northern Vertex Mining Corp announced that, further to the Company's news release on July 10th, it will be proceeding with a Private Placement equity financing (the Private Placement) of approximately 7.7 million units (each Unit) at a purchase price of $0.65 per Unit, for aggregate gross proceeds to the Company of approximately $5,000,000. Each Unit consists of one common share (Common Share) of the Company and one-half of one transferable share purchase warrant (Warrant). Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.90 for a period of 18 months from the closing date of the Private Placement. The expiry date of the Warrants may be accelerated, at the sole option of the Company, to 30 business days following the date on which the Company gives notice that its common shares have closed for 21 consecutive trading days at a price of $1.40 or greater. Cash finders' fees within TSX Venture policy guidelines will be paid on a portion of the Private Placement. Completion of the Private Placement is targeted for early September, 2013. The Company intends to use the net proceeds of the Offering for the advancement of the Moss project, including the completion of a feasibility study and general corporate purposes. The Private Placement as well as any upsizing is subject to acceptance by the TSX Venture Exchange. 

Company Quote

-0.015 -5.45%
2:50pm EDT