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North American Gem Inc V.NAG



TSXV:NAG - Post by User

Post by HHAPPYon Apr 27, 2009 6:25pm
342 Views
Post# 15948115

Two update PRs from Nag

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

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