Big North Graphite Corp. (TSXV:NRT) has closed a private placement of $200,000, subject to TSX Venture Exchange acceptance. The Company also announced that it has closed the shares for debt transaction, previously announced on August 19th.
As quoted in the press release:
Each Unit consists of one common share (the “Shares”) and one-half of one non-transferable common share purchase warrant (the “Warrants”). Each whole Warrant is exercisable to acquire an additional common share at $0.12 until September 12, 2015.
The Company also announces the closing of the shares for debt transaction previously announced by the Company on August 19, 2013. The Company has issued 1,092,307 common shares at a deemed price of $0.065 per common share to settle a total of $71,000 of debt owed to an arm’s length creditor.