Business
Norsemont Mining Announces Bought-Deal Financing
Norsemont Mining Announces Bought-Deal Financing.
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\nShares Issued and Outstanding: 37,912,878\n\n\nTSX: NOM\n\n\nBVL: NOM\n\n\nVANCOUVER and LIMA, Peru, Nov. 1 /CNW/ - Norsemont Mining Inc.\n("Norsemont", the "Company") today announced the Company has entered into an\nagreement with a syndicate of underwriters led by Paradigm Capital Inc. (the\n"Underwriters") pursuant to which the Underwriters have agreed to buy on a\nprivate placement basis 5,400,000 special warrants from Norsemont for resale\nto accredited investors at a price of $2.90 per special warrant, representing\nan aggregate issue amount of $15,660,000.\n\n\nEach special warrant shall be exercisable at no additional cost for one\nunit of Norsemont until 5:00 p.m. (Vancouver time) on the earlier of (i) the\ndate which is five business days following the issuance of a decision document\nfor a final prospectus qualifying the units underlying the special warrants\nand (ii) the date which is four months and one day following the closing of\nthe offering. Each unit shall consist of one common share of Norsemont and\none-half of one common share purchase warrant. Each whole warrant shall be\nexercisable for one common share at an exercise price of $3.50 per share for a\nperiod of 24 months following closing of the offering. Norsemont has agreed to\nuse its best efforts to file and clear a prospectus qualifying the units as\nsoon as practicable and, in any event, within 30 days following the closing of\nthe offering.\n\n\nNorsemont has also granted the Underwriters an option (the "Underwriters'\nOption"), exercisable in whole or in part at any time prior to 24 hours before\nthe closing of the offering, to purchase for resale to accredited investors an\nadditional 810,000 special warrants for additional gross proceeds of up to\n$2,349,000. The special warrants issued as part of the offering will be\nsubject to a 4 month statutory hold period from the date of closing. Closing\nis expected to occur on or about November 15, 2007. The offering is subject to\nstock exchange and other regulatory approval.\n\n\nThe net proceeds of the offering will be used for the continued\ndevelopment of the company's Constancia copper/molybdenum/silver project in\nPeru and for general corporate purposes.\n\n\nAbout Norsemont\n\n\nNorsemont Mining is a Canadian mineral exploration and development\ncomp...