Noront Resources announces closing of $3.5 million private placement
2011年12月19日 - 12:24PM
PR Newswire (Canada)
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES TORONTO, Dec. 20, 2011 /CNW/ -
Noront Resources Ltd. (the "Company" or "Noront") is pleased to
announce the completion of the private placement financing
originally announced on November 29, 2011. Noront has issued
4,073,800 total flow-through common shares ("Flow-Through Shares")
at a price of $0.86 per Flow-Through Share for gross proceeds of
$3,503,468 (the "Offering"). Dundee Securities Ltd., acted as lead
agent on behalf of a syndicate including Raymond James Ltd. (the
"Agents"). In connection with the Offering, the Agents received a
cash commission equal to 5.0% of the gross proceeds raised under
the Offering. All securities issued will be subject to a four
month hold period under Canadian securities laws. The gross
proceeds from the sale of the Flow-Through Shares will be used for
Canadian Exploration Expenses ("CEE"), with the Company to use best
efforts to qualify such CEE as "flow-through mining expenditures",
to fund ongoing exploration activities on the Company's McFauld's
Lake project. Such CEE will be renounced in favour of the
subscribers of the Flow-Through Shares effective on or before
December 31, 2011. About Noront: Noront Resources Ltd. is focused
on developing the high-grade Eagle's Nest
nickel-copper-platinum-palladium deposit, the exploration and
development of the Blackbird chromite discovery and regional
exploration for additional mineral deposits within its large,
highly prospective land position in an area known as the "Ring of
Fire", an emerging multi-metals camp located in the James Bay
Lowlands of Ontario, Canada. Wesley (Wes) Hanson President &
Chief Executive Officer FORWARD LOOKING STATEMENTS This release
contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation, including predictions,
projections and forecasts. Forward-looking statements include, but
are not limited to, statements that address activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including such things as future business
strategy, competitive strengths, goals, expansion, growth of the
Company's businesses, operations, plans and with respect to
exploration results, the timing and success of exploration
activities generally, permitting time lines, government regulation
of exploration and mining operations, environmental risks, title
disputes or claims, limitations on insurance coverage, timing and
possible outcome of any pending litigation and timing and results
of future resource estimates or future economic studies. Often, but
not always, forward-looking statements can be identified by the use
of words such as "plans", "planning", "planned", "expects" or
"looking forward", "does not expect", "continues", "scheduled",
"estimates", "forecasts", "intends", "potential", "anticipates",
"does not anticipate", or "belief", or describes a "goal", or
variation of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking statements are based
on a number of material factors and assumptions, including, the
result of drilling and exploration activities, that contracted
parties provide goods and/or services on the agreed timeframes,
that equipment necessary for exploration is available as scheduled
and does not incur unforeseen break downs, that no labour shortages
or delays are incurred, that plant and equipment function as
specified, that no unusual geological or technical problems occur,
and that laboratory and other related services are available and
perform as contracted. Forward-looking statements involve
known and unknown risks, future events, conditions, uncertainties
and other factors which may cause the actual results, performance
or achievements to be materially different from any future results,
prediction, projection, forecast, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, the interpretation and actual
results of current exploration activities; changes in project
parameters as plans continue to be refined; future prices of gold;
possible variations in grade or recovery rates; failure of
equipment or processes to operate as anticipated; the failure of
contracted parties to perform; labour disputes and other risks of
the mining industry; delays in obtaining governmental approvals or
financing or in the completion of exploration, as well as those
factors disclosed in the Company's publicly filed documents.
Although Noront has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Neither 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. Noront
Resources Ltd. CONTACT: Phone: 416.367.1444Email:
investor.relations@norontresources.comWebsite:
http://www.norontresources.com/
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