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Provider: Reuters Investment Profile
Provider: Wright Reports

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Nobel Iron Inc Announces $5 Million Equity Offering

Tuesday, 26 Mar 2013 12:05pm EDT 

Nobel Iron Inc announced a non-brokered private placement (the Private Placement) offering of up to CAD5.0 million, for 3,846,154 common shares of the Company at a price of $1.30 per share. Noble Iron intends to use the proceeds for growth initiatives at its Southern California and Houston CELLs, and for general working capital purposes. The Private Placement is expected to close on or about April 30, 2013, and may close within 21 days of such date if the Company determines it is reasonable given the circumstances. Insiders of the Company are expected to subscribe for at least 25% of the Private Placement. The common shares issued in connection with the Private Placement will be subject to a hold period of four months and one day from the date of distribution under applicable securities laws. The Private Placement is subject to receipt of all required regulatory and Toronto Stock Exchange approvals. 

Company Quote

-0.04 -3.48%
15 Apr 2014