By Devika Patel
Knoxville, Tenn., Sept. 13 - Norsemont Mining Inc. announced that it has closed a non-brokered C$4.8 million private placement of units.
The company sold 3,000,000 units at C$1.60 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$1.95 for two years.
The securities have a four-month hold period.
Proceeds will be used for exploration and development of the company's Constancia project and for general working capital purposes.
Norsemont is a mining company based in Vancouver, B.C.
| Issuer: | Norsemont Mining Inc.
|
| Issue: | Units of one share and one half share warrant
|
| Amount: | C$4.8 million
|
| Units: | 3,000,000
|
| Price: | C$1.60
|
| Warrants: | One half share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.95
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 13
|
| Stock symbol: | Toronto: NOM
|
| Stock price: | C$1.60 at close Sept. 12
|
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