Private Placement-who are you.

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Babjak1

Rank: President [?]

Points: 44150 [?]

Votes: 342 Score: 3.9 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Private Placement-who are you.

posted on Jan 12, 2009 12:18PM

Hi Agoracom,

Dec. 4, 2008 we were advised that the private placement of over 23million shares for proceeds of over 18 million had closed. Previously on Feb. 4, 2008, we also had an announcement that 6.5million shares were closed for proceeds of 26million. The difference then was that three days later we were informed of who the "substantial purchasers " were by way of a news release. Please see below:

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; and Northfield Capital Corporation purchased a substantial portion of the units in this private placement.

I am wondering why this time is different. Why is management not informing us of who the substantial purchasers are. Last time 6.5 million shares were sold and this time over 23 million. Why the secret as to who the big buyers were this time around? I would appreciate a reply from management.