NEWS....Private PlacementN.A. Gem FT- and NFT-share private placement
North American Gem Inc (C:NAG)
Shares Issued 56,313,494
Last Close 5/4/2007 $0.18
Monday May 07 2007 - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced March 23, 2007.
Number of shares: 4,825,000 flow-through shares; 1.39 million non-flow-through shares
Purchase price: 18 cents per share
Warrants: 2,412,500 share purchase warrants attached to flow-through shares to purchase 2,412,500 shares; 1.39 million share purchase warrants attached to non-flow-through shares to purchase 1.39 million shares
Warrant exercise price: 20 cents for a one-year period; 25 cents in the second year
Hidden placees: 70
Insider participation: Bruce Lock, 50,000 FT
Pro group participation: Kerry Chow, 150,000 FT; Darrell Jamha, 100,000 FT
Finders' fees: Research Capital Corp. will receive $27,000 and 150,000 warrants, each exercisable for one share at a price of 20 cents per share in the first year and at a price of 25 cents per share in the second year. Bolder Investment Partners Ltd. will receive $6,030 and 33,500 warrants, each exercisable for one share at a price of 20 cents per share in the first year and at a price of 25 cents per share in the second year. Canaccord Capital Corp. will receive $28,170 and 156,500 warrants, each exercisable for one share at a price of 20 cents per share in the first year and at a price of 25 cents per share in the second year. Northern Securities Inc. will receive $18,900 and 105,000 warrants, each exercisable for one share at a price of 20 cents per share in the first year and at a price of 25 cents per share in the second year.
© 2007 Canjex Publishing Ltd.