This portion below, is best combined with another NR that came in January of this year.
Pay attention to the .26 part.
"NORONT ISSUES SHARES TO ALGOMA STEEL, EXTENDS DEBT ARRANGEMENT WITH RCF TORONTO, ONTARIO — September 27, 2019 — Noront Resources Ltd. (“Noront” or “the Company”) (TSX Venture: NOT) has received approval from the TSX Venture Exchange and has issued Algoma Steel Inc. (“Algoma”) 750,000 common shares of the Company and 750,000 warrants to purchase common share pursuant to the term sheet signed between the Company and Algoma as announced on September 20, 2019.
The term sheet gives the Company a 5-year option to enter into a 99-year ground lease agreement on a parcel of land owned by Algoma, west of its steel mill. It is Noront’s intent to design, permit, construct and operate a Ferrochrome Production Facility on the property.
Each whole warrant entitles Algoma to purchase one common share at a price of $0.26 per share on or before September 11, 2024. The common shares will be subject to a statutory hold period of four months plus one day from the date of issuance being January 27, 2020."
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January 2019:
pay attention to the .306 part
, 31 Jan 2019 21:53 GMT
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TORONTO, Jan. 31, 2019 (GLOBE NEWSWIRE) — Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) has entered into a fifth amending agreement dated January 31, 2019 (the “Fifth Amending Agreement”) with its largest shareholder, Resource Capital Fund V L.P. (“RCF V”), to extend the term of its existing US$15 million convertible debenture (the “Convertible Debenture”). Subject to TSX Venture Exchange approval, the maturity date of the Convertible Debenture has been extended until September 30, 2019 (previously January 31, 2019).
The amendment includes a provision whereby the Company will require RCF approval to issue equity below $0.306 per share.
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so, RCF was perfectly fine with this 26 cent deal given to Algoma.
Either "players" in Algoma are part of RCF or..the deal appealed to RCF because there is more to this deal than we know.
