Key Developments: Noront Resources Ltd (NOT.V)

NOT.V on TSX Venture Exchange

29 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Noront Resources acquires Cliffs Chromite Ontario Exploration Camp and receives mining lease approval
Friday, 23 May 2014 09:00am EDT 

Noront Resources Ltd:Enters into an agreement with Cliffs Chromite Ontario Inc to acquire its exploration camp at McFaulds Lake.Transaction expected to close during the third quarter of 2014.Receives approval of Mining Lease application the Company made for its Eagle's Nest and Blackbird chromite deposits.  Full Article

Noront Resources Ltd Announces Closing Of Private Placement
Thursday, 31 Oct 2013 04:58pm EDT 

Noront Resources Ltd announced that the Company has closed the previously announced private placement with Alan Coutts, the Company's President and Chief Executive Officer. Mr. Coutts purchased 335,000 common shares of the Company (the "Purchased Shares") at a price of $0.30 per Purchased Share. The Purchased Shares are subject to a four month plus one day hold period which will expire on March 1, 2014. The Company also announces that pursuant to the loan agreement entered into between Noront and Resource Capital Funds V L.P. ("RCF") on February 26, 2013, it has satisfied the payment of interest for the third quarter of calendar 2013 by delivery of 1,165,473 common shares of the Company (the "Interest Shares") to RCF, at an effective price of $0.3317 per Interest Share. The Interest Shares are subject to a four month hold period which will expire on February 16, 2014. After giving effect to the issuance of the Purchased Shares and the Interest Shares, the Company will have 234,759,233 common shares issued and outstanding. The Company has also entered into a purchase and sale agreement with a third party for the sale of its remaining 13.75 million shares in Eagle Hill Exploration Corporation for total gross proceeds of $1,620,781 subject to certain closing conditions.  Full Article

Noront Resources Ltd Announces Appointment Of President And CEO
Tuesday, 24 Sep 2013 07:00am EDT 

Noront Resources Ltd announced that Alan Coutts has been appointed as President and Chief Executive Officer (CEO) and a director of the Company effective October 1, 2013.  Full Article

Noront Resources Ltd Closing Of Sale Of Interest In Windfall Lake Property
Thursday, 15 Aug 2013 08:50am EDT 

Noront Resources Ltd. announced that it has closed the previously announced sale of its remaining 25% interest, all royalty interests, and all other associated rights in the Windfall Lake Project (the Project) on the terms and conditions contained in the binding letter agreement (the Letter Agreement) between the Company, Eagle Hill Exploration Corp. (Eagle Hill) and Southern Arc Minerals Inc., entered into on June 28, 2013.  Full Article

Eagle Hill Exploration Corp Consolidates 100% Of Windfall Lake Gold Deposit From Noront Resources Ltd
Friday, 28 Jun 2013 07:30am EDT 

Eagle Hill Exploration Corp announced that it has entered into a binding letter agreement to acquire the remaining 25% ownership along with all other interests in the mineral claims of the Windfall Lake Property from Noront Resources Ltd. Further, the Company has entered into financing agreements with Southern Arc Minerals Inc. and Dundee Corporation to provide a total of $12 million through two private placements of units. Pursuant to the Noront Transaction, Eagle Hill will acquire all of Noront's remaining interest in the Windfall Lake Property for consideration of $5 million in cash and 25 million common shares of Eagle Hill. Eagle Hill has also made a payment of $615,000 to Noront, leaving $4,385,000 to be paid upon completion of the Transactions. Concurrent with the Noront Transaction, Eagle Hill has entered into financing agreements with Southern Arc and Dundee pursuant to which Southern Arc will make an investment of $7.3 million and Dundee will increase its existing 18.8% ownership with an additional investment of $4.7 million by way of private placements of units at a price of $0.075 per Unit. Upon completion of the Transactions, Southern Arc and Dundee will each hold 26.2% of Eagle Hill. Each Unit consists of one common share and one half of one common share purchase warrant. Haywood Securities Inc. is acting as financial advisor to Eagle Hill with regard to the Transaction.  Full Article

Noront Resources Ltd Announces Agreement To Extend Windfall Lake Option Agreement With Eagle Hill Exploration Corp.
Friday, 19 Apr 2013 11:01pm EDT 

Noront Resources Ltd announced that an agreement (the Amending Agreement) has been signed between the Company and Eagle Hill Exploration Corp. (EAG) to amend certain provisions of the option agreement entered into between the parties on July 20, 2009 (the Option Agreement) in regards to the Windfall Lake Property (the Project). In accordance with the Option Agreement, EAG earned a 75% interest in the Project and the Company retains a 25% interest subject to the provisions of the Option Agreement. Upon earning 75% interest under the Option Agreement, EAG was required to deliver either a bankable feasibility study (providing for a minimum internal rate of return of 15%) or commit to cause the commencement of commercial production (the Delivery Requirement) by April 20, 2013. If EAG does not complete a bankable feasibility study or take the project to production by April 20, 2013, then the Company has the option to purchase back the 75% of the Project from EAG for the lesser of an amount equal to the expenses incurred by EAG and $6 million (the Buy-Back Provisions).  Full Article

Noront Resources Ltd Announces Board Changes-Canada Stockwatch News
Monday, 21 Jan 2013 08:32am EST 

Canada Stockwatch News reported that Noront Resources Ltd's Board of Directors has received the resignation of Wes Hanson as President, Chief Executive Officer (CEO) and a director of Noront. The Board has appointed Paul Parisotto to act as Interim President and CEO and has begun a search to identify a permanent President and CEO. Ted Bassett has been appointed lead director during the period of Mr. Parisotto's appointment as Interim President and CEO.  Full Article

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