Skip to content
About | Contact | Advertise | Manage Subscriptions
  1. Home
  2. Around the North

Noront closes $25M in financing

Noront Resources Ltd. has closed private placement financing on 8,928,500 flow-through common shares at a price of $2.80 to raise gross proceeds of just under $25 million. Wellington West Capital Markets Inc.
Northern Ontario Business Staff

 
Noront Resources Ltd. has closed private placement financing on 8,928,500 flow-through common shares at a price of $2.80 to raise gross proceeds of just under $25 million.

Wellington West Capital Markets Inc. acted as book-runner and lead agent on behalf of a syndicate of agents including Dundee Securities Corp., Genuity Capital Markets, Clarus Securities Inc. and IBK Capital Corp. Noront paid a cash fee to the agents equal to 5 per cent of the gross proceeds of the Offering.

Noront is focused on its McFauld's Lake Project, which include significant and multiple, high-grade nickel-copper-platinum-palladium, chromite and vanadium discoveries in an area known as the Ring of Fire, an emerging multi-metals district located in the James Bay Lowlands.