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North American Tungsten Corporation Ltd NATUF

North American Tungsten Corp Ltd is a Canadian based exploration and development company. It is engaged in the exploration, development, and operation of mineral properties. The company produces, processes, and sells tungsten concentrate. Its project portfolio includes Cantung mine site and Mactung deposit projects.


GREY:NATUF - Post by User

Post by RGS1on Mar 16, 2005 9:51am
308 Views
Post# 8759390

now over $10 mil raised

now over $10 mil raisedNorth American Tungsten plans $6.25-million financing 2005-03-16 09:03 ET - News Release Mr. Stephen Leahy reports NORTH AMERICAN TUNGSTEN ANNOUNCES $6.25 MILLION PRIVATE PLACEMENT OFFERING North American Tungsten Corp. Ltd. has entered into an agreement co-led by Sprott Securities Inc. and Haywood Securities Inc. (collectively, the underwriters), pursuant to which the underwriters have agreed to purchase 10 million units at a price of 50 cents per unit for gross proceeds to the company of approximately $5.0-million; and 2.5 million flow-through shares, at a price of 50 cents per flow-through share for proceeds to the company of approximately $1.25-million, all on an underwritten private placement basis. The underwriters have the option to purchase up to an additional 4.5 million units at 50 cents per unit at any time prior to the closing of the unit offering. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole share purchase warrant will entitle the holder to acquire a common share at a price of 60 cents for a period of two years from closing. These offerings are scheduled to close on or about March 30, 2005, and are subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
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