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Noram Ventures Completes Financing
Noram Ventures Completes Financing Current exploration projects include the Jumbo Flake Grap...
About this update from Noram Lithium Corp
[{"type":"text","content":"\nNoram Ventures Completes Financing\n\nNoram Ventures Completes Financing\nCurrent exploration projects include the Jumbo Flake Graphite Property in southeastern British Columbia\nVancouver, British Columbia CANADA, May 06, 2013 /FSC/ - Noram Ventures Inc. (NRM - TSX Venture), (\"Noram\" or the \"Company\") is pleased to report that the non-brokered private placement  financing announced April 17, 2013 (the \"Offering\") has been closed to raise gross proceeds of $265,000 through the sale of 725,000 flow-through share units (the \"FT Unit\") and 600,000 common share units (the \"Units). \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 May 3, 2015. The Units were priced at $0.20 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 May 3, 2015. \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. \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 September 4, 2013. The net proceeds from the Offering will be used to finance the Company's exploration programs and for general working capital purposes.\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 Molybdenum-Galena Prop...