Business
Norsemont Mining Closes Final Tranche of Private Placement
Vancouver, B.C. - TheNewswire - October 13, 2020 - Norsemont Mining Inc. (CSE:NOM) (CNSX:NOM.CN) (OTCQB:NRRSF) (FWB:LXZ1) ("Norsemont" or the "Company") is plea
About this update from Norsemont Mining Inc.
[{"type":"text","content":"Vancouver, B.C. - TheNewswire - October 13, 2020 - Norsemont Mining Inc. (CSE:NOM) (CNSX:NOM.CN) (OTCQB:NRRSF) (FWB:LXZ1) (\"Norsemont\" or the \"Company\") is pleased to announce that it has closed the final tranche of its non-brokered private placement (the \"Offering\"). A total of 131,160 units (each, a \"Unit\") will be issued at a price of $1.60 per Unit for gross proceeds of $209,856. Each Unit consists of one common share in the capital of the Company (each, a \"Share\") and one transferable common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Share (each, a \"Warrant Share\") at a price of $2.50 per Warrant Share until 5:00 p.m. (Vancouver time) on the date that is twelve (12) month following the Closing Date, subject to an acceleration provision whereby if the Shares trade at a price on the Canadian Securities Exchange (or such other exchange on which the Shares may be traded at such time) (the \"Exchange\") of $3.25 or greater per Share for a period of 10 consecutive trading days after four months and one day from the closing of the Offering (the \"Closing\"), the Company may accelerate the expiry of the Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of Warrants) and, in such case, the Warrants will expire on the 31st day after the date of such notice. The net proceeds from the Offering will be used to fund the Company's upcoming work program on the Choquelimpie gold/silver project in Northern Chile and general working capital. All securities to be issued under the Offering will be subject to a four month and one day hold period in accordance with applicable Canadian securities laws. The Offering is being conducted pursuant to available prospectus exemptions including sales to accredited investors worldwide (Canadian, US and Foreign residents), family, friends and business associates of directors and officers of the Company. The securities to be issued pursuant to the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"1933 Act\") or any state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless ...