North American Gem Inc. Amends Terms of the Private Placement
09 September 2010 - 6:02AM
Marketwired
North American Gem Inc. (NAG) (TSX VENTURE: NAG) has amended the
terms of the non-brokered private placement originally announced on
August 4th, 2010. The Company, subject to the approval of the TSX
Venture Exchange, intends to issue up to 12,500,000 units at a
price of $0.08 per unit for total proceeds of up to $1,000,000.
Each unit will consist of one common share and one full warrant.
One warrant will entitle the holder to purchase one additional
common share of the company at a price of 10 cents per share for
the first year, 12 cents per share on the second year and 15 cents
per shares until expiration on the third year.
The proceeds of the private placement will be used for general
working capital and exploration. A finder's fee may be payable
according to the policies of the TSX Venture Exchange.
North American Gem Inc. (TSX VENTURE: NAG) is a junior resource
company in Western Canada. The company's major focus is expanding
its coal mining operations at its flagship properties in Kentucky.
In addition, the company has interests in coal, copper, molybdenum,
and other base metals in Canada.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
Charles Desjardins, President and Director
Cautionary note:
This report contains forward looking statements. Resource
estimates, unless specifically noted, are considered speculative.
Any and all other resource or reserve estimates are historical in
nature, and should not be relied upon. The production rate and
mine-life projections have been made without support of a
feasibility study, there is no certainty the proposed operations
will be economically viable. By their nature, forward looking
statements involve risk and uncertainties because they relate to
events and depend on factors that will or may occur in the future.
Actual results may vary depending upon exploration activities,
industry production, commodity demand and pricing, currency
exchange rates, and, but not limited to, general economic factors.
Cautionary Note to US investors: The U.S. Securities and Exchange
Commission specifically prohibits the use of certain terms, such as
"reserves" unless such figures are based upon actual production or
formation tests and can be shown to be economically and legally
producible under existing economic and operating conditions.
"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."
Contacts: North American Gem Inc. Charles Desjardins President
and Director 604-683-5445 604-687-9631 (FAX)
info@northamericangem.com www.northamericangem.com
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