/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES/
VANCOUVER, BC, Sept. 30, 2020
/CNW/ - Norra Metals Corp. (the
"Company") (TSX-V: NORA) is pleased to announce it
has closed an oversubscribed non-brokered private placement
financing for total gross proceeds of $1,377,500.
"We are very pleased to close on this oversubscribed financing,
which will allow us to begin our rapid pace of advancement at
Bleikvassli. Participation from management clearly underscores our
team's commitment and confidence in the project," states
Mike Devji Chief Executive Officer
of Norra Metals Corp.
The company has allotted and issued 27,550,000 units at a price
of $0.05 per unit. Each unit
comprises of one common share and one non-transferable share
purchase warrant. Each warrant will entitle the holder to purchase
one additional common share of the Company for a period of 24
months at a price of $0.15 per
share.
The Company will use the proceeds from the private placement
toward exploring and advancing its Bleikvassli property and general
working capital. All securities issued are subject to a 6 month
hold period expiring on March 24,
2021.
In relation to the private placement, the company has paid
finders' fees in the aggregate amount of $48,720 and issued 939,400 finders' warrants to
an arm's-length party, with each finder's warrant exercisable into
a common share of the Company at a price of $0.15 per share for a period of 24 months.
About Norra Metals Corp.
Norra Metals primary focus is
the exploration potential on the Bleikvassli property as a former
Cu-Zn-Pb-Ag (± Au) producer which represents an immediate and
significant exploration target for the company. The Bleikvassli
property is located in central Norway, contains power and paved roads onsite,
is close to tide water and nearby rail service. Management has been
mandated to focus on safe, mining-friendly jurisdictions and
government regulations supportive of mining operations.
We seek Safe Harbor.
ON BEHALF OF THE BOARD OF
NORRA METALS CORP.
Per: "Minaz Devji"
Minaz Devji,
CEO and Director
Contact info:
Tel: (604) 258-8666
Email: mike.devji@norrametals.com
This news release was prepared by Company
management, who take
full responsibility for its content.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in
the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Norra Metals Corp.