North American Gem Inc V.NAG

RE:RE:TSX accepts PP doc

[Bluegene66]

North American Gem Inc. Closes First Tranche of Private

Placement

September 22, 2010: North American Gem Inc. (NAG) (TSX-V symbol: NAG) would like to

announce that the first tranche of the non-brokered private placement originally announced on

August 4th, 2010 and reprised on September 8th 2010 has been conditionally accepted by the TSX

Venture Exchange. The Company raised $792,086.24 at a price of
.08 per unit in the first

tranche.

A total of 9,901,078 units were issued as non-flow-through units consisting of one common

share and one non-transferable share purchase warrant. Each warrant will entitle the holder to

purchase one additional common share of the company at a price of 10 cents per share for the

first year, 12 cents per share on the second year and 15 cents per shares until expiration on the

third year

From my understanding the first tranche is closed. What's with this "filing documentation with respect to the first tranche" for 3.6 million shares? They must have made a mistake and meant second tranche for 3.6 million shares, 9.9 +3.6=13.5 million shares. Oversubscribed by one million.

North American Gem Inc. Amends Terms of the Private Placement

 

September 8, 2010: North American Gem Inc. (NAG) (TSX-V symbol: NAG) has amended the

terms of the non-brokered private placement originally announced on August 4th, 2010. The

Company, subject to the approval of the TSX Venture Exchange, intends to issue up to

12,500,000 units at a price of
.08 per unit for total proceeds of up to $1,000,000.