Stockwatch

Norsemont Mining Inc
Symbol	NOM
Shares Issued	15,213,496
Close 2020-06-17	C$ 1.70
Market Cap	C$ 25,862,943
Recent Sedar Documents

Norsemont closes $1.48M first tranche of financing

2020-06-17 16:28 ET - News Release

Subject: NOM - News Release to be disseminated Word Document File: '\\doc\emailin\20200617 131712 Attachment 20200617_NR_CloseFirstRranchePP.docx' NORSEMONT MINING INC. Suite 610, 700 West Pender Street Vancouver, BC, V6C 1G8 Phone: 604-669-9788 NEWS RELEASE NORSEMONT CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT Vancouver, B.C., June 17, 2020 - Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) ("Norsemont" or the "Company") announces today it has closed the first tranche of a non-brokered private placement issuing a total of 1,975,099 units (each, a "Unit") at a price of $0.75 per Unit for gross proceeds of $1,481,324.25 (the "Private Placement"). Each Unit consisted of one common share in the capital of the Company (each, a "Share") and one-half of one transferable common share purchase warrant (each, a "One-Half Warrant" and each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share (each, a "Warrant Share") at a price of $1.10 per Warrant Share until 5:00 p.m. (Vancouver time) on or before June 14, 2021, subject to an acceleration provision whereby if the Shares trade at a price on the Canadian Securities Exchange (or such other exchange on which the Shares may be traded at such time) (the "Exchange") of $1.50 or greater per Share for a period of 10 consecutive trading days after four months and one day from the closing of the Offering (the "Closing"), the Company may accelerate the expiry of the Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of Warrants) and, in such case, the Warrants will expire on the 31st day after the date of such notice. Proceeds from the Private Placement are intended to be used in connection with the payment of professional fees, due diligence expenses, technical expenses including geological reports and working capital. The Company paid cash finder's fees in the amount of $20,786.48 to certain eligible finders in connection with the Private Placement. The securities distributed pursuant to the Private Placement are subject to a statutory hold period of four months and one day that expires on October 15, 2020. On behalf of the Board of Directors, NORSEMONT MINING INC. Allan Larmour Chief Executive Officer, Director For more information, please contact the Company at: Telephone: (604) 669-9788 Facsimile: (604) 669-9768 Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. PDF Document File: Attachment 20200617_NR_CloseFirstRranchePP.pdf NORSEMONT MINING INC. Suite 610, 700 West Pender Street Vancouver, BC, V6C 1G8 Phone: 604-669-9788 NEWS RELEASE NORSEMONT CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT Vancouver, B.C., June 17, 2020 Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) ("Norsemont" or the "Company") announces today it has closed the first tranche of a non-brokered private placement issuing a total of 1,975,099 units (each, a "Unit") at a price of $0.75 per Unit for gross proceeds of $1,481,324.25 (the "Private Placement"). Each Unit consisted of one common share in the capital of the Company (each, a "Share") and one-half of one transferable common share purchase warrant (each, a "One-Half Warrant" and each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share (each, a "Warrant Share") at a price of $1.10 per Warrant Share until 5:00 p.m. (Vancouver time) on or before June 14, 2021, subject to an acceleration provision whereby if the Shares trade at a price on the Canadian Securities Exchange (or such other exchange on which the Shares may be traded at such time) (the "Exchange") of $1.50 or greater per Share for a period of 10 consecutive trading days after four months and one day from the closing of the Offering (the " Closing"), the Company may accelerate the expiry of the Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of Warrants) and, in such case, the Warrants will expire on the 31st day after the date of such notice. Proceeds from the Private Placement are intended to be used in connection with the payment of professional fees, due diligence expenses, technical expenses including geological reports and working capital. The Company paid cash finder's fees in the amount of $20,786.48 to certain eligible finders in connection with the Private Placement. The securities distributed pursuant to the Private Placement are subject to a statutory hold period of four months and one day that expires on October 15, 2020. On behalf of the Board of Directors, NORSEMONT MINING INC. Allan Larmour Chief Executive Officer, Director For more information, please contact the Company at: Telephone: (604) 669-9788 Facsimile: (604) 669-9768 Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.