OTCPK:NOSOF - Post by User
Comment by
glorieuxon Apr 14, 2008 10:53am
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Post# 14967885
RE: question for the board
RE: question for the boardThis was in the Press release of January:
TORONTO, ONTARIO--(Feb. 7, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) has closed a private placement of 6,500,000 units of Noront for aggregate gross proceeds of $26,000,000. Noront is very pleased to announce that Rosseau Asset Management; Pinetree Capital Ltd.; Robert McEwen, President, Evanachan Limited; Pierre Lassonde, Chairman, Franco-Nevada Corporation; Sprott Asset Management; and Northfield Capital Corporation purchased a substantial portion of the units in this private placement.
McEwen and Lassonde are 2 of the biggest names in Mining in Canada and they are probably in for more shares via the warrants. We are waiting on the NR regarding this. So far we know that about 80% of the warrants have been exerciced. The other news from Majors is that Vale/Inco and Norilsk are both now staking in the Ring of Fire. We have no news of them buying into Noront at this time and to be honest, I would rather wait before that kind of a deal as we have over 70M in the bank right now. There is no rush to do a deal with anyone.
Glorieux