RE:RE:New money raise announced. Huge potential dilution !
****49 North has entered into a stand-by commitment agreement (the "Stand-By Agreement") dated September 5, 2014 with BEC International Corporation ("BEC"). Pursuant to the Stand-By Agreement BEC has agreed to purchase from the Corporation such number of Units that are available to be purchased, but not otherwise subscribed for, that will result in a minimum of 1,315,830 Units being issued under the Rights Offering (the "Stand-By Commitment") for $0.30 per Unit. As compensation for providing its Stand-By Commitment, upon closing of the Rights Offering the Company will issue BEC one (1) Common Share purchase warrant (a "Stand-By Warrant") for every four (4) Units acquired by BEC pursuant to the Stand-By Commitment, up to a maximum of 328,957 Stand-By Warrants. Each Stand By-Warrant entitles BEC to purchase one Common Share at an exercise price of $0.30 per Common Share for a period of six months after the date on which performance of the Stand-By Commitment is performed.***** Read more at https://www.stockhouse.com/news/press-releases/2014/09/08/49-north-resources-inc-announces-rights-offering-to-shareholders#70SUrlVbmTl4qwpB.99