Business
Northern Spirit Resources Inc. Announces Private Placement of Flow-through Common Shares
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/ CALGARY, Dec. 23, 2011 /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. 23, 2011 /CNW/ - Northern Spirit Resources Inc. (\"Northern Spirit\" or the \"Corporation\") (TSXV: NS) is pleased to announce that it has commenced a\n non-brokered private placement for up to $1 million (the \"Private Placement\").  The Corporation will issue up to 10,000,000 common shares in the\n capital of the Corporation to be issued on a \"flow-through\" basis\n pursuant to the Income Tax Act (Canada) (\"Flow-Through Shares\") to exempt buyers on a private placement basis at a price of $0.10 per\n Flow-Through Share.\n\n\nNorthern Spirit expects to use the proceeds of the Private Placement to\n incur qualifying Canadian Development Expenses to fund its ongoing\n capital programs prior to December 31, 2012.  These qualifying Canadian\n Development Expenses will be renounced to subscribers as Canadian\n Exploration Expenses effective December 31, 2011.\n\n\nThe Flow-Through Shares issued pursuant to the Private Placement will be\n subject to a four-month hold period from the closing date, which is\n anticipated to occur on or before December 30, 2011.\n\n\nThe Private Placement is subject to approval from the TSX Venture\n Exchange.\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 applicable securities laws. The use of\n any of the words \"expect\", \"anticipate\", \"continue\", \"estimate\", \"may\",\n \"will\", \"project\", \"should\", \"believe\", \"plans\", \"intends\" and similar\n expressions are intended to identify forward-looking information or\n statements.  In particular, but without limiting the forgoing, this\n press release contains st...