Noront closes $18.87-million private placement
2008-12-04 18:24 ET - News Release
Mr. Paul Parisotto reports
NORONT CLOSES FINANCING
Noront Resources Ltd. has successfully closed its previously announced flow-through private placement financing. Gross proceeds of $18.87-million were raised through the issuance of 23,587,500 flow-through common shares at a price of 80 cents per share. This placement was effected on a non-brokered placement basis, with the hold periods in respect of such issuances expiring on March 29 and April 5, 2009. Finders' fees of $754,800 were paid to various arm's-length parties in respect of the offering.
The proceeds of this placement will be used for further exploration of Noront's McFaulds Lake projects.