Further to itsFeb. 29 statement,Northern Vertex MiningCorp. said March 31 that it has raised C$2.6 million at the closeof its non-brokered private placement, slightly higher than its initial target.
The companyissued an aggregate 7,974,875 units at 32 cents apiece. Each unit consists of 1common share and 1 transferable share purchase warrant. A whole warrant willentitle the holder to acquire 1 common share at an exercise price of 50 centsuntil March 31, 2019.
Northern Vertexwill use the proceeds from the private placement for the advancement of itsMossgold-silver earn-in property located in Arizona, and for general corporatepurposes.
All securitiesissued pursuant to the placement will have a four month hold period whichexpires on Aug. 1.