Norseman Capital Ltd.  is pleased to announce a proposed non-brokered private placement financing of units (“Units”) of the Company (the ”Offering”) at a price of CAD$0.15 per Unit for gross proceeds of up to CAD$300,000. Each Unit shall be composed of one common share (“Share”) and one-half of one Share purchase warrant (“Warrant”). Each whole Warrant shall entitle the holder to purchase one Share at a price of CAD$0.25 per Share for a period of twenty-four months from the date of issuance. Closing of the Offering is expected to occur on or around August 10, 2020.

The Company intends to use the net proceeds from the Offering for general corporate and working capital purposes and on the recommended phase 1 program on the Caribou Property in connection with the entering into of the option agreement with Cloudbreak Discovery Corp on June 2, 2020. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. All securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period.

For further information, please contact:

John W. Barr
Interim Chief Executive Officer
T: + 61 0 418 912 885

See Campaign: http://http://www.gem-intl.ca/
Contact Information:
John W. Barr
Interim Chief Executive Officer
T: + 61 0 418 912 885

Tags:
, Wire, Disclosure Newswire, North America, English

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Contact Information:

John W. Barr
Interim Chief Executive Officer
T: + 61 0 418 912 885

 

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