VANCOUVER, BC, Aug. 21, 2020 /CNW/ – Norra Metals Corp. (the “Firm“) (TSXV: NORA) is happy to announce a non-brokered non-public placement (the “Personal Placement“) providing of as much as 25,000,000 models (“Models“) at a value of $0.05 per Unit for gross proceeds of as much as $1,250,000. Every Unit will consist of 1 frequent share and one share buy warrant (every warrant, a “Warrant“). Every Warrant will entitle the holder to buy one extra frequent share of the Firm at a value of $0.15 for 2 (2) years following the closing of the Personal Placement. Within the occasion the Personal Placement is over-subscribed, the Firm will make provision for an over-allotment possibility (the “Over-Allotment Possibility“) to permit the Firm to extend the dimensions of the Personal Placement by as much as 10% and difficulty a further 2,500,000 Models for extra gross proceeds of $125,000.
The Firm intends to make use of the web proceeds of the Personal Placement for its working capital
The issuance of the Shares is topic to the approval of the TSX Enterprise Alternate. As well as, all any shares issued or issuable upon the train of a Warrant (collectively, the “Securities“) will likely be topic to the next maintain interval: (i) 25% of all Securities issued will likely be launched six months after the cut-off date; and (ii) 25% of all Securities issued will likely be launched each two months thereafter.
ON BEHALF OF THE BOARD OF
NORRA METALS CORP.
Per: “Minaz Devji”
CEO and Director
Tel: (604) 258-8666
This information launch was ready by Firm administration, who take full duty for its content material. Neither TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.