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| Home : Northern Superior Announces $2,000,000 Non-Brokered Private Placement |
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Oct 12
2016 |
Northern Superior Announces $2,000,000 Non-Brokered Private Placement |
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SUDBURY, ONTARIO--(Marketwired - Oct. 11, 2016) - Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSX VENTURE:SUP) is pleased to announce that it has agreed to raise up to $2,000,000 from certain investors by way of a non-brokered private placement. Specifically, Northern Superior has agreed to issue up to 40,000,000 units of the Company ("Units") priced at $0.05 per Unit (the "Private Placement") to investors. Each Unit will consist of one (1) common share issued on a flow-through basis and one-half (1/2) of a non-transferable share purchase warrant of the Company. Each whole warrant will entitle the holder to purchase one (1) additional common share of the Company (non-flow-though) at a price of $0.075 per share, for a period of two (2) years from the date of issuance. In the event the Company's closing share price on the TSX Venture Exchange exceeds $0.15 per share for ten (10) consecutive trading days, the Company shall have the right to provide notice to holders of warrants accelerating the expiry date of the warrants to thirty (30) days from the date of notice. |
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| Source:http://www.marketwired.com/mw/release.do?id=2165381&sourceType=3 |
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