Mr. Minaz Devji reports
NORRA METALS ANNOUNCES PRIVATE PLACEMENT
Norra Metals Corp. has arranged a private placement offering for the sale of up to 15 million units at the issue price of five cents per unit for gross proceeds of up to $750,000. Each unit shall comprise one common share and one-half of one share purchase warrant, where each whole warrant may be exercised to purchase a further common share at a price of 10 cents for a period of two years.
The Norra Metals management team will subscribe for $150,000 of the private placement.
The funds will be used for the company's working capital. Finders' fees shall be paid in cash, shares or warrants, or a combination of the foregoing, subject to board approval and in accordance with the policies of the TSX Venture Exchange.
The completion of the private placement is subject to approval from the TSX Venture Exchange.
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