16:06:13 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Northern Empire Resources Corp (2)
Symbol NM
Shares Issued 45,790,369
Close 2017-11-03 C$ 0.98
Market Cap C$ 44,874,562
Recent Sedar Documents

Northern Empire arranges $10.08-million bought deal

2017-11-06 08:28 ET - News Release

Mr. Michael Allen reports

NORTHERN EMPIRE ANNOUNCES $10 MILLION BOUGHT DEAL FINANCING

Northern Empire Resources Corp. has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc., pursuant to which the underwriters have agreed to purchase on a bought deal basis 11.2 million common shares of the company at a price of 90 cents per share, representing total gross proceeds of $10.08-million. Closing is expected on or about Nov. 28, 2017, and is subject to regulatory approval including that of the TSX Venture Exchange and the securities regulatory authorities.

In addition, the company has granted the underwriters an option to purchase up to 1.68 million additional shares at the offering price for market stabilization purposes and to cover overallotments, exercisable within 30 days of the date of closing. In the event that the overallotment option is exercised in its entirety, the aggregate gross proceeds of the offering will be $11,592,000.

The net proceeds of the offering will be used by the company to advance its Sterling gold property in Nevada and for general corporate purposes.

The Shares will be offered by way of a short form prospectus to purchasers in all provinces of Canada other than Quebec, in the United States on a private placement basis pursuant to applicable exemptions under the United States Securities Act of 1933, as amended, and in jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.

About Northern Empire Resources Corp.

Northern Empire is an aggressive, Vancouver-based, gold explorer working to take advantage of the current improving market conditions by assembling a value driven portfolio of properties. The portfolio is anchored by the Sterling gold property. The Sterling property land package totals 116 square kilometres and hosts existing infrastructure and an inferred resource of 709,000 ounces gold with a 1.0-gram-per-tonne-gold cut-off.

We seek Safe Harbor.

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