10:51:58 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Northquest Ltd
Symbol NQ
Shares Issued 56,631,484
Close 2014-11-21 C$ 0.09
Market Cap C$ 5,096,834
Recent Sedar Documents

Northquest closes $1.2-million private placement

2014-11-26 17:37 ET - News Release

Mr. Jon North reports

NORTHQUEST LTD. ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING

Northquest Ltd. has closed its previously announced non-brokered private placement pursuant to which Northquest issued a total of 10 million common shares at a price of 12 cents per share, to raise total gross proceeds of $1.2-million.

Nord Gold N.V., an insider of Northquest, exercised its right to maintain its 23.7-per-cent interest in Northquest and purchased a total of 3,075,000 shares in the offering for proceeds of $369,000. In addition, upon the completion of this financing another major shareholder and prominent U.S. resource investor, controls 6.5 million common shares, representing a 7.11-per-cent interest in Northquest on a fully diluted basis.

Northquest issued a total of 484,750 broker warrants in connection with the offering, each such broker warrant being exercisable to acquire one share at an exercise price of 16 cents until Nov. 26, 2016.

All securities issued pursuant to the offering are subject to a statutory hold period expiring on March 27, 2015. The offering remains subject to the final approval of the TSX Venture Exchange.

We seek Safe Harbor.

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