Northaven Announces Financing
July 27 2011 - 5:28PM
Marketwired
NORTHAVEN RESOURCES CORP. (TSX VENTURE: NTV) announced today it is
planning to complete a non-brokered private placement comprised of
flow through and non-flow through securities with aggregate gross
proceeds of up to $1,250,000. The flow through portion of the
offering is comprised of 500,000 flow through shares ("FTS") at a
price of $0.19 per share and up to 3,275,000 super flow through
units ("FT Units") at a price of $0.20 per FT Unit, each of which
is comprised of one common share issued as a "super flow through"
share and a one half (1/2) two year non-flow-through share purchase
warrant exercisable at a price of $0.30, for total flow through
proceeds of $750,000. The non-flow through portion of the offering
is comprised of up to 3,333,333 non-flow through units ("NFT
Units") at a price of $0.15 per NFT Unit, each of which is
comprised of one non-flow through common share and a one half (1/2)
two year non-flow-through share purchase warrant exercisable at a
price of $0.25, for total non flow through proceeds of $500,000.
Finders' fees of up to 7% will be paid in cash to qualified
persons who assist the Company in securing subscribers for FT Units
and NFT Units in the Placement. The net proceeds of the
flow-through portion of the Private Placement will be used to cover
expenditures on the Company's properties in British Columbia
qualifying as "Canadian Exploration Expense". The net proceeds of
the non-flow-through portion of the placement after paying
transaction costs will be used to fund exploration of the Company's
properties and for general corporate purposes. Closing of the
Placement will take place in one or more tranches, subject to TSX-V
approval, which remains outstanding.
On behalf of the Board of Directors of NORTHAVEN RESOURCES
CORP.
Allen D. Leschert, CEO
This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties
and are subject to factors, many of which are beyond Northaven's
control, and may cause actual results or performance to differ
materially from those currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Northaven Resources Corp. Malcolm Fraser President 604
696-3608 malcolm@northavenresources.com Northaven Resources Corp.
Allen Leschert CEO 604 696-3600 allen@northavenresources.com
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