Business
Norsemont Mining Announces Exercise of Underwriters' Option
Strong Investor Demand Increases Bought-deal Financing to C$18M Shares Issued and Outstanding: 37...
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\nStrong Investor Demand Increases Bought-deal Financing to C$18M\n\n\nShares Issued and Outstanding: 37,912,878\n\n\nTSX: NOM\n\n\nBVL: NOM\n\n\nVANCOUVER, and LIMA, Nov. 6 /CNW/ - Norsemont Mining Inc. (TSX: NOM, BVL:\nNOM) ("Norsemont", the "Company") today announced that following strong\ninvestor demand the syndicate of underwriters, led by Paradigm Capital Inc.\nand including Salman Partners Inc., Blackmont Capital Inc., and Haywood\nSecurities Inc. (the Underwriters"), has exercised their option (the\n"Underwriters Option") to increase the size of the recently announced\nbought-deal financing from approximately $15.7 million to approximately $18\nmillion.\n\n\nOn November 1, 2007, the Company entered into an agreement with the\nUnderwriters pursuant to which they agreed to buy, on a private placement\nbasis, 5,400,000 special warrants from Norsemont for resale to accredited\ninvestors at a price of $2.90 per special warrant, representing an aggregate\nissue amount of $15,660,000. Norsemont also granted the Underwriters an\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.\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 final MRRS\ndecision document and receipt for a final prospectus qualifying the units\nunderlying the special warrants and (ii) the date which is four months and one\nday following the closing of the offering. Each unit shall consist of one\ncommon share of Norsemont and one-half of one common share purchase warrant.\nEach whole warrant shall be exercisable for one common share at an exercise\nprice of $3.50 per share for a period of 24 months following closing of the\noffering. Norsemont has agreed to use its best efforts to file and clear a\nshort-form prospectus qualifying the securities comprising the units as soon\nas practicable and, in any event, within 30 days following the closing of the\noffering. Closing is expected to occur on or about November 15, 2007.\n\n\nThe net proceeds of the offering will ...