Business
Noram Ventures Closes Financing
Noram Ventures Closes Financing Vancouver, British Columbia CANADA, December 13, 2013 /FSC/...
About this update from Noram Lithium Corp
[{"type":"text","content":"Noram Ventures Closes FinancingNoram Ventures Closes Financing\n\nVancouver, British Columbia CANADA, December 13, 2013 /FSC/ - Noram Ventures Inc. (NRM - TSX Venture), (\"Noram\" or the \"Company\") is pleased to report that its previously announced non-brokered private placement financing (the \"Offering\") has been closed to raise gross proceeds of approximately $187,000 through the sale of 310,000 flow-through share units (the \"FT Unit\") and 833,333 common share units (the \"Units). \n\nThe FT Units were priced at $0.20 and consisted of one flow-through share and one non-transferable common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.25 until December 13, 2015. The Units were priced at $0.15 and consisted of one common share and one non-transferable common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.25 until December 13, 2015. \n\nAll warrants associated with this Offering are subject to an acceleration provision allowing the Company to accelerate the expiry of the warrants if the Company's shares trade above $0.40 for ten (10) consecutive days. In that event, the warrants will expire 30 days after the Company has given notice of the accelerated conversion to the warrant holders. \n\nNo finder's fees were paid in connection with this Offering. All securities issued in connection with this Offering are subject to a four-month hold period in accordance with securities regulation, until April 14, 2014. The net proceeds from the Offering will be used to finance the Company's exploration programs and for general working capital purposes. \n\nThe Offering remains subject to final acceptance of the TSX Venture Exchange. \n\nAbout Noram Ventures Inc.:\n\nNoram Ventures Inc. (TSX-V: NRM) (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 and create value through the initial drilling and discovery phase. Noram's current portfolio includes four properties in the Kootenay region of southern British Columbia: the Amazing Grace gold property, the Jumbo flake-graphite property, the Kokanee flake-graphite property and the Silver Hill molybdenum-lead property. For furt...