Northern Aspect Resources Ltd. closes initial public offering
29 December 2011 - 12:22PM
PR Newswire (Canada)
(Not for dissemination in the United States of America) CALGARY,
Dec. 29, 2011 /CNW/ - Northern Aspect Resources Ltd. (the
"Corporation") , a capital pool company pursuant to Policy 2.4 of
the TSX Venture Exchange (the "Exchange"), is pleased to announce
that it has completed today its initial public offering (the
"Offering") of 1,000,000 common shares (the "Offered Shares") at
$0.20 per Offered Share, for gross proceeds to the Corporation of
$200,000. The Corporation's directors and officers are: Harry
Dobson, Chairman of the Board of Directors; Brian Hinchcliffe,
President, Chief Executive Officer and a director; John Thomson,
Chief Financial Officer, Corporate Secretary and a director; and
George Milton, director. Macquarie Private Wealth Inc.
("Macquarie") acted as agent for the Corporation in connection with
the Offering. The Corporation has paid to Macquarie a corporate
finance fee, a cash commission of 10% of the gross proceeds of the
Offering and has issued to Macquarie a non-transferable option
entitling it to purchase up to 100,000 common shares of the
Corporation at a price of $0.20 per share, exercisable for a period
of 24 months from the date of the listing and posting of the common
shares of the Corporation on the Exchange. The Corporation
previously received gross proceeds of $100,000 from the sale of
1,000,000 common shares (the "Seed Shares") to its directors and
officers. All Seed Shares were placed in escrow in accordance
with the policies of the Exchange. The net proceeds received by the
Corporation from the sale of the Offered Shares and the Seed Shares
will be used by the Corporation to identify and evaluate assets and
businesses for acquisition with a view to completing a "Qualifying
Transaction" under the capital pool company program of the
Exchange. Upon completion of the Offering, the Corporation had
2,000,000 common shares issued and outstanding, which common shares
are expected to commence trading on the Exchange shortly under the
symbol "NTH.P". Additional information relating to the Corporation
and the Offering can be located in the final prospectus of the
Corporation dated November 28, 2011 available online under the
profile for the Corporation on www.sedar.com. Neither the TSX
Venture Exchange nor its Regulation Service Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any state in the United States in which
such offer, solicitation or sale would be unlawful. The
securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements. Northern Aspect Resources Ltd. CONTACT: John
ThomsonChief Financial OfficerPhone: +44 7876 474609Fax: +44 1828
686817
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