Charles stayed clear of PPI'll bet that those who bought the last PP for 0.075 are feeling stupid now, including an insider who bought 200,000 shares...
North American Gem Inc. Closes Private Placement
: North American Gem Inc. (NAG)(TSX-V symbol: NAG) would like to announce that it has closed theNon-Brokered Private Placement announced March 29th 2011. NAG raised$1,183,350 at a price of
.075 per share.
A total of 5,940,000 units were issued as non-flow-through unitsconsisting of one common share and one share purchase warrant. Onewarrant will entitle the holder to purchase one additional common shareof the company at a price of
.10 per share in the first year,
.12per share in the second year, and
.15 per share in the third year.
A total of 9,838,000 units were issued as flow-through units consistingof one common share and one-half of one share purchase warrant. Onewarrant will entitle the holder to purchase one additional common shareof the company at a price of
.10 per share in the first year,
.12per share in the second year, and
.15 per share in the third year.
Shares, warrants and any shares issued upon exercise of the warrants aresubject to a hold period of four months expiring August 15th 2011. Theproceeds of the private placement will be used for exploration of thecompany's mineral properties and general working capital.
The following insider and pros participated in the private placement;
Insider: Dave Bissoondatt 200,000 non-flow-through shares.
Pro group: Ivano Veschini 300,000 flow-through shares; Kerry Chow1,200,000 flow-through shares; Roberto Chu 300,000 non-flow-throughshares; David Hamilton 100,000 flow-through shares; Shaun Chin 280,000flow-through shares.
SUCYN