North American Gem Inc. Closes Private Placement
2011年4月19日 - 5:15AM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) would like to
announce that it has closed the Non-Brokered Private Placement
announced March 29th 2011. NAG raised $1,183,350 at a price of
$0.075 per share.
A total of 5,940,000 units were issued as non-flow-through units
consisting of one common share and one share purchase warrant. One
warrant will entitle the holder to purchase one additional common
share of the company at a price of $0.10 per share in the first
year, $0.12 per share in the second year, and $0.15 per share in
the third year.
A total of 9,838,000 units were issued as flow-through units
consisting of one common share and one-half of one share purchase
warrant. One warrant will entitle the holder to purchase one
additional common share of the company at a price of $0.10 per
share in the first year, $0.12 per share in the second year, and
$0.15 per share in the third year.
Shares, warrants and any shares issued upon exercise of the
warrants are subject to a hold period of four months expiring
August 15th 2011. The proceeds of the private placement will be
used for exploration of the company's mineral properties and
general working capital.
The following insider and pros participated in the private
placement;
Insider: Dave Bissoondatt 200,000 non-flow-through shares.
Pro group: Ivano Veschini 300,000 flow-through shares; Kerry
Chow 1,200,000 flow-through shares; Roberto Chu 300,000
non-flow-through shares; David Hamilton 100,000 flow-through
shares; Shaun Chin 280,000 flow-through shares.
Finders' fees: Canaccord Genuity Corp. receives $5,625 and
75,000 share purchase warrants (same terms as above); Haywood
Securities Inc. receives $68,002.50 and 906,700 share purchase
warrants (same terms as above); Alex Kuznecov receives $5,257.50
and 70,100 share purchase warrants (same terms as above); Union
Securities Ltd. receives $7,500 and 100,000 share purchase warrants
(same terms as above).
North American Gem Inc. (TSX VENTURE: NAG) is a Junior
Exploration Company based in Western Canada. The Company's primary
goal is to explore for Coal in North America, currently the focus
is in Kentucky, Saskatchewan, and West Virginia. In addition to
Coal exploration, the Company also has interests in Uranium,
Copper, Gold, Molybdenum and other base metals in Canada.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
Charles Desjardins, President and Director
Cautionary note:
This report contains forward looking statements. Resource
estimates, unless specifically noted, are considered speculative.
Any and all other resource or reserve estimates are historical in
nature, and should not be relied upon. The production rate and
mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations
will be economically viable. By their nature, forward looking
statements involve risk and uncertainties because they relate to
events and depend on factors that will or may occur in the future.
Actual results may vary depending upon exploration activities,
industry production, commodity demand and pricing, currency
exchange rates, and, but not limited to, general economic factors.
Cautionary Note to US investors: The U.S. Securities and Exchange
Commission specifically prohibits the use of certain terms, such as
"reserves" unless such figures are based upon actual production or
formation tests and can be shown to be economically and legally
producible under existing economic and operating conditions.
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: North American Gem Inc. Charles Desjardins President
and Director 604-683-5445 604-687-9631 (FAX)
info@northamericangem.com www.northamericangem.com
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