On monday the 5 million PP shares of 6 cents and the 5 million warrants for 9 cents become free trading...
We will probably see 0.10 -0.11 real fast...
North American Gem Inc. Closes Private Placement and Grants Incentive Stock Options
North American Gem Inc. (TSX-V symbol: NAG) (the "Company") would like to announce that the non-brokered privateplacement announced on September 4, 2009 has closed. The Company raised $300,000 at a price of
.06 per share.
A total of 5,000,000 units were issued as non-flow-through unitsconsisting of one common share and one non-transferable share purchasewarrant. One warrant will entitle the holder to purchase one additionalcommon share of the company at a price of 9 cents per share for thefirst year, 12 cents per share on the second year and 15 cents pershares until expiration on the third year.
Shares, warrants and any shares issued upon exercise of thewarrants are subject to a hold period of four months expiring February8, 2010. The proceeds of the private placement will be used forexploration of the company's mineral properties and general workingcapital.
The following pro participated in the private placement;
Pro group: Roberto Chu 125,000 non-flow-through shares
Finders' fees: $13,650 cash and 227,500 warrants (same terms asprivate placement above) payable to PI Financial Corp. $5,010 cash and83,500 warrants (same terms as private placement above) payable toBolder Investment Partners. $5,100 cash and 85,000 warrants (same termsas private placement above) payable to Research Capital Corp.
North American Gem Inc. would also like to announce thatpursuant to its stock option plan, the Company has granted incentivestock options to its directors, officers, consultants, and employees topurchase in the total of 600,000 common shares in the capital stock ofthe company, subject to regulatory approval, exercisable for a periodof five years, at a price of
.10 cents per share.