VANCOUVER, BC, Jan. 17, 2022
/CNW/ - Norra Metals Corp. ("Norra" or the "Company")
(TSXV: NORA) (Frankfurt: 1KO)
(OTC: NRRMF) intends to complete a non-brokered private placement,
on a best efforts basis, of up to 10,000,000 units (the
"Units") with a 20% over-allotment option at a price of
$0.065 per Unit for gross proceeds of
up to $650,000 (the
"Offering").
Each Unit is comprised of one common share of Norra (a
"Share") and one-half of one common share purchase warrant
(each whole warrant, a "Warrant"). Each Warrant will entitle
the holder thereof to acquire one Share at a price of $0.12 for a period of 24 months following the
date of closing.
Closing of the Offering is expected to occur on or about
February 15, 2022 and remains subject
to a number of conditions, including receipt of all necessary
regulatory approvals, including the approval of the TSX Venture
Exchange. In connection with the Offering, a finder's fee may be
payable in line with the policies of the TSX Venture Exchange.
All securities issued in connection with the Offering will be
subject to a hold period of four-months and one-day as set out in
National Instrument 45-102. The Company intends to use the net
proceeds to fund the exploration expenditures at the Company's
exploration assets in Norway and
for working capital.
About Norra Metals
Norra Metals Corp.
(TSX-V: NORA) (FSE: 1KO) (OTC: NRRMF) is
a Canadian-based precious and base metals exploration company. The
Company's Norwegian assets include the past-producing Bleikvassli
polymetallic, zinc-copper-lead-silver underground mine project and
the high-grade Meråker copper-zinc-gold exploration project.
The Company also holds a 100% interest in the Pyramid copper-gold
porphyry project located in Northwest
British Columbia. For more information, please
visit www.norrametals.com.
ON BEHALF OF THE BOARD OF
NORRA METALS CORP.
Per: "Minaz Devji"
Minaz Devji,
CEO and Director
This press release contains "forward-looking information" that
is based on the Company's current expectations, estimates,
forecasts, and projections. This forward-looking information
includes, among other things, statements with respect to the
Company's exploration and development plans. The words "will",
"anticipated", "plans" or other similar words and phrases are
intended to identify forward-looking information. Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the Company's actual results,
level of activity, performance, or achievements to be materially
different from those expressed or implied by such forward looking
information.
Neither the Canadian Securities Exchange nor its Regulation
Services Provider accept responsibility for the adequacy or
accuracy of this release.
SOURCE Norra Metals Corp.
