PP for 13M share dilutionBig North Announces Increase To Private Placement (tnw)
(via Thenewswire.ca)
Vancouver, B.C. / TNW-ACCESSWIRE / March 13, 2014 / BIG NORTH CAPITAL INC. (TSX-V: NRT) (the " Company " or " Big North "), is pleased to announce that further to its press release of January 10, 2014, it has increased the amount of its non-brokered private placement (the " Offering "). The Company will now be issuing up to 13,333,333 units (the " Units ") at a price of $0.06 per Unit for gross proceeds of approximately $800,000. The Units being offered pursuant to the Offering are comprised of one common share (each a " Common Share ") and one common share purchase warrant (a " Warrant "). Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.075 for a period of 24 months from the closing of the Offering.
As announced on February 24, 2014, the Company closed the first tranche of the Offering for a total of 5,058,332 Units for gross proceeds of $303,500.
The Offering is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities to be issued in the Offering will be subject to a four-month hold period in accordance with applicable securities laws.
The Company may pay a finder's fee on the Offering upon regulatory approval.
The net proceeds of the Offering will be used for exploration of the Company's mineral properties and for general working capital.
None of the securities issued in connection with the Offering will be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For further information concerning this press release, please contact Spiro Kletas at (604) 629-8220.
ON BEHALF OF THE BOARD
(signed) "Spiro Kletas" ___________________________
Spiro Kletas
President and Chief Executive Officer