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Noram Ventures Arranges Non-Brokered Private Placement
Noram Ventures Arranges Non-Brokered Private Placement Vancouver, British Columbia CANADA, A...
About this update from Noram Lithium Corp
[{"type":"text","content":"\nNoram Ventures Arranges Non-Brokered Private Placement\n\nNoram Ventures Arranges Non-Brokered Private Placement\nVancouver, British Columbia CANADA, April 17, 2013 /FSC/ - Noram Ventures Inc. (NRM - TSX Venture), (\"Noram\" or the \"Company\") is pleased to report it has arranged a non-brokered private placement (the \"Offering\") of 1,325,000 units to raise gross proceeds of $265,000. Under the terms of the Offering, the Company will place 725,000 flow-through share units (the \"FT Unit\") and 600,000 common share units (the \"Units\").\nThe FT Units will be offered at a price of $0.20 and will consist of one flow-through share and one non-transferable common share purchase warrant exercisable at a price of $0.25 per common share for a period of 24 months following the close of the Offering.\nEach Unit will be offered at a price of $0.20 and will consist of one common share and one transferable common share purchase warrant exercisable at a price of $0.25 per common share for a period of 24 months following the close of the Offering.\nAll warrants associated with this Offering are subject to an acceleration provision, whereby Noram has the right to give notice to the warrant holders to accelerate an earlier conversion of the Warrants if the Company's common shares, as traded on the TSX Venture Exchange, close above $0.40 per share for at least 10 consecutive trading days.  In that event, the Warrants will expire 30 days after the Company has given notice of the accelerated conversion to the Warrant holders.\nThe net proceeds from the Offering will be used to finance the Company's exploration programs and for general working capital purposes.\n  \nThe Offering is subject to TSX Venture Exchange approval. All securities issued in connection with this Offering 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 Pr...