Business
Norsemont Mining Closes Non-Brokered $4.8 million Private Placement
Norsemont Mining Closes Non-Brokered $4.8 million Private Placement.
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\nProceeds to be used to advance exploration and development of the\n\n\nConstancia Copper/Molybdenum/Silver Project\n\n\nShares Issued and Outstanding: 37,762,878\n\n\nTSX: NOM\n\n\nVANCOUVER, Sept. 13 /CNW/ - Norsemont Mining Inc. ("the Company")\n(TSX: NOM) today announced that it has closed a non-brokered private placement\nof 3 million units. The units were placed at a price of C$1.60 each, for gross\nproceeds of C$4.8 million. Each unit consists of one common share and one-half\nof one common-share purchase warrant. Each whole common-share purchase warrant\nentitles the holder, on exercise, to acquire one additional common share of\nthe company at an exercise price of $1.95 within 24 months from the date of\nissuance of the warrants. The securities issued under the private placement\nare subject to a four month hold period expiring on January 12, 2008.\n\n\nThe proceeds from the private placement will be used primarily to\naccelerate exploration and development of the Constancia Project and for\ngeneral working capital purposes.\n\n\nThe securities sold have not, nor will they be registered under the\nUnited States Securities Act of 1933, as amended, and may not be offered or\nsold within the United States or to, or for the account or benefit of U.S.\npersons absent U.S. registration or an applicable exemption from U.S.\nregistration requirements. This release does not constitute an offer for sale\nof securities in the United States.\n\n\nAbout Norsemont Mining\n\n\nNorsemont Mining is a Canadian exploration company exploring the\nConstancia Cu-Au-Mo project in Peru, which has been optioned from Rio Tinto\nPlc.\n\n\n","length":1724,"tagName":"div"}]