Non-brokered deal finances work on properties, general working capital
By Devika Patel
Knoxville, Tenn., April 5 - Northern Vertex Capital Inc. said it settled a C$2.2 million non-brokered private placement of units.
The company sold 3,143,000 units of one common share and one half-share warrant at C$0.70 per unit.
Each whole warrant will be exercisable at C$1.15 until April 5, 2013. The strike price represents a 27.78% premium to the April 4 closing share price of C$0.90.
Proceeds will be used to finance additional work on Northern Vertex's properties and for general working capital.
Northern Vertex is based in Vancouver, B.C., and explores for copper, lead, zinc, silver and gold.
| Issuer: | Northern Vertex Capital Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2,200,100
|
| Units: | 3,143,000
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | April 5, 2013
|
| Warrant strike price: | C$1.15
|
| Agent: | Non-brokered
|
| Settlement date: | April 5
|
| Stock symbol: | TSX Venture: NEE
|
| Stock price: | C$0.90 at close April 4
|
| Market capitalization: | C$16.43 million
|
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