Is he making a play.. ?
November 30, 2007 issue of Canadian Business magazine ......Robert McEwen...."If you want to get somewhere, you can either stand behind the person in front of you or step out of line. I’ve always found that I get to where I want to go faster if I step out of line. In Canada, there are too many people standing in line waiting for someone else to do something for them. A slave is someone waiting for someone else to free them."
"..........other key investors from the February, 2008, financing, who collectively hold a much larger ownership stake in Noront than Rosseau, share Rosseau's views........ "
TORONTO, ONTARIO--(Feb. 7, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) has closed a private placement of 6,500,000 units of Noront for aggregate gross proceeds of $26,000,000.
Noront is very pleased to announce that
Rosseau Asset Management;
Pinetree Capital Ltd.;
Robert McEwen, President, Evanachan Limited;
Pierre Lassonde, Chairman, Franco-Nevada Corporation;
Sprott Asset Management;
Northfield Capital Corporation
have purchased a substantial portion of the units in this private placement.
Each unit was priced at $4.00 and consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of Noront at an exercise price of $5.00 for a period of two years from the date of issue, subject to accelerated expiry, being 30 days after the common shares of Noront have closed at or above a price of $6.00 for ten consecutive trading days on the principal exchange on which Noront's common shares are listed for trading. The common shares and warrants comprising the units, and the common shares underlying the warrants, are subject to a hold period which expires on June 7, 2008. IBK Capital Corp. acted as agent and J.P. Morgan Securities Inc. acted as financial advisor for Noront on this transaction.
Hg
