News
NORTHISLE ANNOUNCES C$30 MILLION FINANCING
Vancouver, B.C. – NorthIsle Copper and Gold Inc. (TSXV: NCX, OTCQX:NTCPF) (“NorthIsle” or the “Company”) is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. (“Paradigm”) as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the “Agents”), in connection with a ”best efforts” private placement financing (the “Brokered Offering”) for total proceeds of up to approximately $25,002,747, consisting of up to 9,338,000 common shares of the Company that qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the “CFT Shares”) to be issued to subscribers at a price of $1.6065 per CFT Share, and up to 9,525,000 common shares of the Company (the “Non-FT Shares” and together with the CFT Shares, the “Offered Shares”) at a price of $1.05 per common share. In addition, the Company has granted the Agents an option (the “Agents’ Option”) to sell additional Offered Shares at the same issue prices for additional aggregate gross proceeds of up to $3,750,412, exercisable not later than 48 hours prior to the Closing Date (as defined below). The term “Offering” includes the additional Offered Shares that may be issued on the exercise of the Agents’ Option, if any. The Offering is anticipated to include participation from new and existing fundamental institutional investors and existing cornerstone shareholders.
3 months ago • 2 views
