Business
Northern Spirit Resources Inc. Announces Closing of Private Placement
/ NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/ CALGARY, Dec. 31, 2012 /CNW/ - North...
About this update from Tenaz Energy Corp
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n\n\nCALGARY, Dec. 31, 2012 /CNW/ - Northern Spirit Resources Inc. (\"Northern Spirit\" or the \"Corporation\") (TSXV: NS) is pleased to announce that it has closed its previously\n announced non-brokered private placement (the \"Private Placement\") of units (\"Units\") of the Corporation.  The Corporation issued an aggregate of\n 86,259,604 Units in the Private Placement, at a price of $0.05 per Unit\n for aggregate gross proceeds of $4,312,980.20, inclusive of 13,584,000\n Units that were issued today (for gross proceeds of $679,200) in the\n final tranche of the Private Placement. The Corporation paid a cash\n finder's fee of $19,302 related to subscriptions for 6,434,000 of the\n Units in the Private Placement.\n\n\nEach Unit consists of one common share (\"Common Share\") of the Corporation and one Common Share purchase warrant (a \"Warrant\") of the Corporation.  Each Warrant will entitle the holder to purchase\n one additional Common Share at a price of: (i) $0.075 per Common Share\n from date that is 12 months from the date of issuance (the \"Initial One Year Term\"); and (ii) $0.10 per Common Share for the period from the expiry of\n the Initial One Year Term until the date that is three years from the\n date of issuance.\n\n\nThe securities issued today are subject to a four-month hold period\n under applicable securities laws, which hold period expires on May 1,\n 2013.\n\n\nProceeds from the Private Placement will be used to further the\n Corporation's operational program and for general working capital\n purposes.\n\n\nThis press release shall not constitute an offer to sell or the\n solicitation of an offer to buy any securities of Northern Spirit in\n any jurisdiction in which such offer, solicitation or sale would be\n unlawful. The securities to be offered have not been and will not be\n registered under the United States Securities Act of 1933, as  amended,\n or any state securities laws and may not be offered or sold within the\n United States or to or for the account or benefit of a U.S. Person\n absent registration or an applicable exemption from the registration\n requirements of such Act or laws.\n\n\nCautionary Statements\n\n\nThis press release contains certain forward-looking information and\n statements within the meaning of a...