High North Resources Ltd. announced that it has received CAD 4 million in funding
On August 28, 2014, the company announced that it has entered into an amendment agreement with co-lead agents and co-bookrunners. The company will issue now issue flow-through common shares only on commercially reasonable efforts basis. The transaction is expected to close on or about September 10, 2014.
On September 10, 2014, High North Resources Ltd. closed the transaction. The company issued 7,273,000 flow-through common shares for gross proceeds of CAD 4,000,150. The shares issued are subject to a hold period which expires four months and one day from the date of closing. The company paid 6% commission of the gross proceeds, excluding gross proceeds from flow-through common shares subscribed for by President's list subscribers. The TSX Venture Exchange has accepted filing documentation with respect to the transaction. The transaction includes partcipation 36 placees. Gabriel Ollivier subscribed 90,900 shares, Mark Soares subscribed 60,000 shares, Colin Soares subscribed 50,000 shares, Colin Soares of 674698 Alberta Ltd. subscribed 100,000, Rose Soares subscribed 15,000 shares, Kathryn Soares subscribed 15,000 and aggregate pro group subscribed 677,966 shares. The company has paid the cash commission of CAD 71,747.33 to GMP Securities L.P., CAD 71,747.33 to National Bank Financial Inc., CAD 71,747.33 to Integral Wealth Securities Limited., and CAD 12,527.31 to Beacon Securities Ltd.