Big North Closes $303,500 Private Placement
24 Febrero 2014 - 8:00AM
Access Wire
Vancouver,
B.C., February 24, 2014 - BIG NORTH
GRAPHITE CORP. (TSX-V: NRT) (OTC: BNCIF) (the
"Company" or "Big
North"), announces that it has closed the first tranche of
a private placement announced January 10, 2014. A total of
5,058,332 units (the "Units") at a
price of 6 cents per Unit have been issued for gross proceeds of
$303,500 (the "Offering").
Each Unit consists of a common share in the
capital of the Company (a "Share") and
one common share purchase warrant (a "Warrant").
Each Warrant entitles the holder to acquire one Share at a price of
$0.075 per Share for two years following the closing of the
Offering.
All securities issued in connection with the
Offering will be subject to a four month hold period expiring on
June 25, 2014, in accordance with applicable Canadian
securities laws. Net proceeds from the Offering will
be applied towards the acquisition of the El Tejon graphite mine in
Oaxaca, Mexico (see December 19, 2013 press release) and for
general working capital purposes. The Offering remains subject to final acceptance
by the TSX Venture Exchange.
In connection with the Offering, the Company paid
certain finders (the "Finders") a
cash commission equal to 7% of the proceeds of the sale of Units by
such Finder and issued finder's compensation warrants (the
"Finder's
Warrants") equal to 7% of the
number of Units sold by such Finder.
None of
the securities issued in connection with the Offering will be
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. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
About Big North
Graphite Corp.
Big North is
a graphite development and exploration company focused on select
projects in Mexico and Canada. The Company acquired
three past producing amorphous graphite mines in Sonora, Mexico and
is working towards accelerating the restart of the Nuevo San Pedro
amorphous graphite mine. Big North is currently in the Test Mining
phase at Nuevo San Pedro and has completed sales of amorphous
graphite totaling 760 tons to date.
Big North has
started the assembly of a processing plant that will
be used for crushing, screening, sizing and drying of amorphous
graphite to the specifications of future customers.
Further, the Company has commenced a strategy of buying
unprocessed amorphous graphite from local miners who do not possess
the ability to process or ship to end users.
Recently, Big North
acquired the El Tejon Flake Graphite Mine and Mill in Oaxaca,
Mexico.
Big North also owns
high priority, large flake graphite exploration projects in Ontario
and Quebec, Canada.
For further information please contact
Spiro Kletas at (604) 629-8220.
ON BEHALF OF THE BOARD
(signed)
"Spiro
Kletas"
Spiro
Kletas
President and Chief Executive
Officer
Facebook: https://www.facebook.com/bignorthgraphite
Twitter: https://twitter.com/NRTgraphite
YouTube: http://www.youtube.com/bignorthgraphite
Flicker: http://www.flickr.com/photos/bignorthgraphite
Neither
the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Except
for historical information contained herein, this news release
contains forward-looking statements that involve risks and
uncertainties. Actual results may differ materially. Except as
required pursuant to applicable securities laws, the Company will
not update these forward-looking statements to reflect events or
circumstances after the date hereof. More detailed information
about potential factors that could affect financial results is
included in the documents filed from time to time with the Canadian
securities regulatory authorities by the Company.
NOT FOR DISTRIBUTION
TO U.S. NEWSWIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES
Big North Graphite Corp. (TSXV:NRT)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Big North Graphite Corp. (TSXV:NRT)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024