The Prospector News

Norden Crown Announces Closing of Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Norden Crown Announces Closing of Private Placement

 

 

 

 

 

Norden Crown Metals Corp. (TSX-V: NOCR) (OTC: NOCRF) (Frankfurt: 03E) is pleased to announce that it has closed its previously announced non-brokered private ‎placement.‎

 

Further to its news release of June 21, 2021, the consolidation of the issued and outstanding common shares of the Company ‎on the basis of three existing common shares for one new consolidated common share was effective at market open on June 23, 2021.

 

All securities issued under the Private Placement have been issued on a post-Consolidation basis as of the Effective Date.

 

Under the Private Placement, 8,625,617 units of the Company were issued at $0.30 ‎per Unit on a post-Consolidation basis for total gross proceeds to Norden Crown of approximately $2.59 million.

 

Each Unit consists of one common ‎share and one common share purchase warrant, with each ‎Warrant being exercisable for one additional Common Share at a price of $0.60 on a post-Consolidation basis for a period of ‎‎36 months from the date of issue. The expiry date of the Warrants is subject to acceleration, at the Company’s discretion, if the Company’s shares trade on a volume-weighted average price basis of $1.80 on a post-Consolidation basis or higher for 10 consecutive trading days, in which case holders will have 30 days to exercise the Warrants.

 

All securities issued under the Private Placement are subject to a statutory hold period ‎expiring ‎four months and one day from the issue date. The TSXV has ‎conditionally ‎approved the Private Placement, subject to customary final filings.     ‎

 

In connection with the Private Placement, the Company paid certain arm’s length finders, ‎finders’ fees totaling $18,207 and 60,690 Warrants.   ‎

 

Net proceeds of the Private Placement will be used to carry out an airborne magnetic survey, geological mapping, geochemical sampling and a phase 2 step out drilling program at the Company’s Fredriksson Gruva discovery and for general corporate purposes‎.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the ‎securities in the United States. The securities have not been and will not be registered under the ‎United States Securities Act of 1933 as amended (the “1933 Act“), or any state securities laws and ‎may not be offered or sold within the United States or to, or for the account or benefit of U.S. ‎persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable ‎exemption from such registration requirements‎.

 

About Norden Crown Metals Corp.

 

Norden Crown is a mineral exploration company focused on the discovery of silver, zinc, copper, and gold deposits in exceptional, historical mining project areas spanning Sweden and Norway. The Company aims to discover new economic mineral deposits in known mining districts that have seen little or no modern exploration techniques. The Company is led by an experienced management team and an accomplished technical team, with successful track records in mineral discovery, mining development and financing.

 

Posted June 25, 2021

Share this news article

MORE or "UNCATEGORIZED"


Canasil Intersects 1.85 Metres with 5.49 g/t Gold and 432 g/t Silver (876 g/t AgEq*) Including 8.83 g/t Gold and 706 g/t Silver (1,411 g/t AgEq*) over 0.60 Metres at the Nora Project, Durango, Mexico

Canasil Resources Inc. (TSX-V: CLZ) (DB Frankfurt: 3CC) announces result... READ MORE

January 27, 2022

Golden Minerals Drills 1.5m Grading 4.02 g/t Au and 1,473.2 g/t Ag at Yoquivo

Golden Minerals Company (NYSE-A: AUMN) (TSX: AUMN) is pleased to ... READ MORE

January 27, 2022

PureGold Announces Equity Financings for Total Proceeds of C$25 Million; AngloGold Ashanti Proposes to Increase Ownership to 19.9%

Pure Gold Mining Inc. (TSX-V:PGM) (LSE:PUR) is pleased to announce that ... READ MORE

January 27, 2022

Radisson intersects 38.34 g/t gold over 2.00 m from initial exploration program to the west of the old O’Brien mine

Radisson Mining Resources Inc. (TSX-V: RDS) (OTC: RMRDF) is pleased to announce signi... READ MORE

January 27, 2022

NorthWest Intersects Multiple Intervals of High-Grade Gold Up to 10.5 Grams per Tonne at East Niv While Expanding the Footprint of Copper and Gold Mineralization in Additional Drillholes

NorthWest Copper (TSX-V:NWST) (OTCQX:NWXCC) is pleased to announc... READ MORE

January 27, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News