VANCOUVER, BC, March 2, 2022 /CNW/ - Norra Metals Corp. ("Norra" or the "Company") (TSXV: NORA) (FSE: 1KO) (OTC: NRRMF) is pleased to announce it is completing its first tranche of its non-brokered private placement financing for total gross proceeds of $304,150 by the sale of 4,679,232 units at a price of $0.065 per unit (please refer to Norra's news release dated January 17, 2022) and due to an increase in demand, has increased the total private placement financing by an additional $100,000 to a total of $750,000 and in furtherance of same re-announces its private placement of units at $0.065 per unit, where each unit comprises one common share and one-half of one common share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of 24 months at a price of $0.12 per share, in accordance with the policies of the TSX Venture Exchange. The funds will be used for the Company's working capital. Finders' fees shall be paid in cash, or warrants, or a combination of the foregoing, subject to board approval and in accordance with the policies of the TSX Venture Exchange.
The Company intends to use the net proceeds to fund the exploration expenditures at the Company's exploration assets in Norway and for working capital purposes. All securities issued from this offering will be subject to a 4 month and one day hold period from date of issuance.
About Norra Metals
Norra Metals Corp. (TSXV: NORA) (FSE: 1KO) (OTC: NRRMF) is a Canadian-based precious and base metals exploration company. The Company's Norwegian assets include the past-producing Bleikvassli polymetallic, zinc-copper-lead-silver underground mine project and the high-grade Meråker copper-zinc- gold exploration project. The Company also holds a 100% interest in the Pyramid copper-gold porphyry project located in Northwest British Columbia. For more information, please visit www.norrametals.com.
ON BEHALF OF THE BOARD OF NORRA METALS CORP.
Per: "Minaz Devji"
Minaz Devji,
CEO and Director
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
SOURCE Norra Metals Corp.
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