Two update PRs from NagFirst one official TSX version of NAG reset of warrants. More important is second PR which confirms NAG HAS successfully raised the PP money they announced on March 4/09
N.A. Gem 2,742,500 warrants extended, repriced
North American Gem Inc (C:NAG)
Shares Issued 107,778,259
Last Close4/24/2009 $0.075
Monday April 27 2009 - Miscellaneous
The TSX Venture Exchange has consented to the reduction in the exercise priceof the following warrants:
Private placement
Number of warrants: 2,742,500
Original expiry date of warrants: May 7, 2009
New expiry date of warrants: May 7, 2012
Forced exercise provision: If the closing price for the company's shares is10 cents or greater for a period of 10 consecutive trading days, then thewarrantholders will have 30 days to exercise their warrants; otherwise, thewarrants will expire on the 31st day.
Original exercise price of warrants: 20 cents for first year and 25 centsfor second year
New exercise price of warrants: Eight cents
These warrants were issued pursuant to a private placement of 4,825,000flow-through shares and 1.39 million non-flow-through shares, with 3,802,500share purchase warrants attached, which was accepted for filing by the TSX-Veffective May 7, 2007.
North American Gem 10.3-million-share private placement
North American Gem Inc (C:NAG)
Shares Issued 107,778,259
Last Close4/24/2009 $0.075
Monday April 27 2009 - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respectto a non-brokered private placement announced March 4, 2009:
Number of shares: 7.17 million non-flow-through shares and 3.13 millionflow-through shares
Purchase price: Six cents per share
Warrants: 8,735,000 share purchase warrants to purchase 8,735,000 shares
Warrant exercise prices: 10 cents for a one-year period and 15 cents in thesecond year
Hidden placees: 48 hidden placees participated
Pro groups: Kerry Chow, 300,000 flow-through shares; Roberto Chu, 100,000non-flow-through shares
Finders' fees: $19,800 cash and 330,000 warrants (same terms as privateplacement above), payable to PI Financial Corp.; $10,050 cash and 167,500warrants (same terms as above), payable to Research Capital Corp.; $4,020 cashand 67,000 warrants (same terms as above), payable to Bolder InvestmentPartners