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)
Message: Have I missed something?
Hello,
Please look at the Noront news release dated December 11, 2013. Noront is changing it's physical year to align itself with other mining companies. Their physical year will now be at the end of the year which is December and at that time they will make a review and hand out shares to the board. Now we are seeing the board handing out shares to themselves in March of 2016. Is this normal and has something changed?
Noront Announces Change in Year End and Grant of Stock Options
TORONTO, ONTARIO–(Marketwired – Dec. 11, 2013) – Noront Resources Ltd. (“Noront” or the “Company”) (TSX VENTURE:NOT) reports that the company has changed its fiscal year end from April 30 to December 31, effective as of December 31, 2013. Accordingly, for the new fiscal 2013 period, the Company will report its annual consolidated financial statements for the eight month period ending December 31, 2013 compared to the twelve month period ended April 30, 2013. The Company changed its year end in order to bring its financial year end in line with the majority of producing mining companies. In accordance with the change in year-end the Company’s Board of Directors has changed its annual review period to align with the new year-end.
In addition, the Company’s Board of Directors has granted options to acquire an aggregate of 3,620,000 common shares of Noront (“Common Shares”) to directors, officers and employees, with an exercise price of $0.17 per Common Share, the closing market price on the date of grant December 10, 2013, exercisable for a period of five years. The options were granted pursuant to Noront’s stock option plan and are subject to all applicable regulatory and exchange approvals.
About Noront: Noront Resources Ltd. is focused on development of the high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the high-grade Blackbird chromite deposit, both of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire.
For further information please visit Noront’s website at www.norontresources.com or search the Company’s publically filed documents on SEDAR at www.sedar.com.
Noront Resources Announces Closing of Private Placement and Grant of Stock Options
Published: Mar 30, 2016 1:26 p.m. ET
TORONTO, ON , Mar 30, 2016 (Marketwired via COMTEX) -- Noront Resources Ltd. ("Noront" or the "Company") (NOT) today announced the closing of a non-brokered private placement of 1,500,000 units ("Units") at a price of $0.35 per Unit for gross proceeds of $525,000 and 1,366,667 flow-through units ("Flow-Through Units") at a price of $0.45 per Flow-Through Unit for gross proceeds of $615,000. The Company intends to use the proceeds for exploration activities and for working capital purposes.
Each Unit is comprised of one common share of Noront (a "Common Share") and one Common Share purchase warrant, each warrant entitling the holder to purchase one Common Share at a price of $0.50 per share on or before March 30, 2019. Each Flow-Through Unit is comprised of one Common Share to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one-half of one Common Share purchase warrant, each whole warrant entitling the holder to purchase one Common Share at a price of $0.55 per share on or before March 30, 2019. The Units and Flow-Through Units (and the securities underlying such units) are subject to a statutory hold period of four months plus one day which will expire on July 31, 2016.
In connection with the offering, Secutor Capital Management Corporation received a cash finder's fee equal to 5% of the gross proceeds of the sale of the Flow-Through Units.
In addition, the Company's Board of Directors has granted options to acquire an aggregate of 2,275,000 Common Shares to directors, officers and employees, with an exercise price of $0.34 per Common Share, the closing market price on the date of grant (March 24, 2016), exercisable for a period of five years.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
About Noront Resources
Noront Resources Ltd. is focused on development of the high-grade Eagle's Nest nickel, copper, platinum and palladium deposit and the high-grade chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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