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Noram Ventures Announces Non-Brokered Private Placement
Noram Ventures Announces Non-Brokered Private Placement Vancouver, British Columbia CANADA, ...
About this update from Noram Lithium Corp
[{"type":"text","content":"Noram Ventures Announces Non-Brokered Private PlacementNoram Ventures Announces Non-Brokered Private Placement\nVancouver, British Columbia CANADA, September 25, 2013 /FSC/ - Noram Ventures Inc. (NRM - TSX Venture), (\"Noram\" or the \"Company\") is pleased to report that it intends to carry out a non-brokered private placement for gross proceeds of up to $400,000 (the \"Private Placement\").  \nThe Private Placement will consist of up to 1,000,000 flow-through units of the Company (each, a \"Flow-Through Unit\") and up to 1,000,000 regular units (each, a \"Unit\") at a price of $0.20 per Flow-Through Unit and $0.20 per Unit. Each Flow-Through Unit will consist of one common share in the capital of the Company (each a \"Share\") issued on a flow-through basis, and one common share purchase warrant (each, a \"Warrant\"). Each Unit will consist of one Share and one Warrant. Each Warrant will entitle the holder to purchase one additional Share (a \"Warrant Share\") at a price of $0.25 per Warrant Share for a period of 24 months following the closing date. \nThe Warrants are subject to an early acceleration provision which provides for the mandatory exercise or expiry of the Warrants in the event Noram's shares close at $0.40 or higher for at least 10 consecutive trading days. In such event, the Warrants will accelerate and expire 30 days after the Company has given notice of the accelerated conversion to the Warrant holders.\nThe net proceeds from the Private Placement will be used to finance the Company's exploration programs and for general working capital purposes.  \nThe Private Placement is subject to TSX Venture Exchange approval. All securities issued in connection with this Private Placement will be subject to a four-month hold period in accordance with securities regulation. \nAbout Noram Ventures Inc.:\nNoram Ventures Inc. (TSX-V: NRM) is a Canadian based mineral exploration company with a project generator business model. The Company's strategy is to identify and acquire early-stage properties that offer large-scale resource potential, and create value through the initial drilling and discovery phase. Noram's current focus is on three properties in the Central Kootenay region of Southeastern British Columbia: the Jumbo Flake-Graphite Property, the Kokanee Flake-Graphite Property and the Silver Hill Mo...