Big North Announces Increase To Private Placement
13 March 2014 - 11:01PM
Access Wire
Vancouver, B.C. / ACCESSWIRE / March 13, 2014 /
BIG NORTH CAPITAL INC. (TSX-V: NRT) (the
"Company" or
"Big
North"), is pleased to announce that
further to its press release of January 10, 2014, it has increased
the amount of its non-brokered private placement (the
"Offering").
The Company will now be issuing up to 13,333,333 units (the
"Units") at a
price of $0.06 per Unit for gross proceeds of approximately
$800,000. The Units being offered pursuant to the Offering are
comprised of one common share (each a "Common Share") and one common
share purchase warrant (a "Warrant"). Each Warrant will
entitle the holder thereof to acquire one common share of the
Company at a price of $0.075 for a period of 24 months from the
closing of the Offering.
As announced on February 24, 2014,
the Company closed the first tranche of the Offering for a total of
5,058,332 Units for gross proceeds of $303,500.
The Offering is subject to all necessary regulatory approvals,
including the approval of the TSX Venture Exchange. All securities
to be issued in the Offering will be subject to a four-month hold
period in accordance with applicable securities laws.
The Company may pay a finder's fee on the Offering upon
regulatory approval.
The net proceeds of the Offering will be used
for exploration of the Company's mineral properties and for general
working capital.
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.
For further information concerning
this press release, 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 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.
This news release
is intended for distribution in Canada only and is not intended for
distribution to United States newswire services or dissemination in
the United States.
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