Northaven Resources Corp Announces Closing of Private Placement
Northaven Resources Corp announced that it has closed the previously announced private placement (the Private Placement) together with a contemporaneous five to one (5:1) consolidation of its shares (the Consolidation), both of which were previously announced on May 6, 2013. The Private Placement was comprised of 6,666,667 post-consolidation common shares issued at a post-consolidation price of $0.056 per share, for gross proceeds of $375,000 (the Private Placement). Proceeds of the placement will be used to fund payment of existing indebtedness of the Company and to provide for additional working capital. The Shares issued under the Placement are subject to a statutory hold period expiring January 7, 2014.
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