North American Gem Inc. Announces Private Placement
September 04 2009 - 3:53PM
Marketwired
North American Gem Inc. (TSX-V: NAG) (the "Company") would like to
announce that it has arranged a non-brokered private placement,
subject to the approval of the TSX Venture Exchange, of up to
5,000,000 units at a price of $0.06 per unit for total proceeds of
up to $300,000. Each non-flow through unit will consist of one
common share and one full warrant. Each full warrant will entitle
the holder to purchase one additional common share of the Company
at a price of $0.09 per share for the first year, $0.12 per share
in the second year, and $0.15 per share in the third year.
The proceeds of the private placement will be used for
exploration work on the Company's coal properties in Kentucky and
general working capital. A finder's fee may be payable according to
the policies of the TSX Venture Exchange.
The Company further announces that pursuant to its stock option
plan, the Company has granted incentive stock options to its
directors, officers, consultants, and employees to purchase in the
total of 1,500,000 common shares in the capital stock of the
company, subject to regulatory approval, exercisable for a period
of five years, at a price of $0.10 per share.
North American Gem Inc. (TSX-V: NAG) is a Junior Exploration
Company based in Western Canada. The Company's primary goal is to
explore for Coal in North America, currently the focus is in
Kentucky, Saskatchewan and West Virginia. In addition to Coal
exploration, the Company also has interests in Uranium, Copper,
Gold, Molybdenum and other base metals in Canada.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
"Charles Desjardins"
Charles Desjardins
President and Director
Neither TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Cautionary note:
This report contains forward looking statements. Resource
estimates, unless specifically noted, are considered speculative.
Any and all other resource or reserve estimates are historical in
nature, and should not be relied upon. By their nature, forward
looking statements involve risk and uncertainties because they
relate to events and depend on factors that will or may occur in
the future. Actual results may vary depending upon exploration
activities, industry production, commodity demand and pricing,
currency exchange rates, and, but not limited to, general economic
factors. Cautionary Note to US investors: The U.S. Securities and
Exchange Commission specifically prohibits the use of certain
terms, such as "reserves" unless such figures are based upon actual
production or formation tests and can be shown to be economically
and legally producible under existing economic and operating
conditions.
Contact: North American Gem Inc. 430 - 609 Granville Street
Vancouver, BC Canada V7Y 1G5 Phone: 604-683-5445 Facsimile:
604-687-9631 info@northamericangem.com www.northamericangem.com
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