Norsemont Announces Closing of Warrant Financing from Strategic Investors

Core Points - Norsemont Mining Inc. has successfully closed a non-brokered private placement of 3,500,000 share purchase warrants at an issue price of CAD $0.10 per Warrant, raising gross proceeds of CAD $350,000 [1][3] - Each Warrant allows the holder to purchase one common share at a price of CAD $0.59 for a period of five years, with potential for acceleration of expiry if the share price exceeds CAD $1.00 for 10 consecutive trading days [2][3] - The proceeds from the Offering will be used for general working capital and mineral exploration of the Choquelimpie Gold-Silver-Copper project [3][7] Company Overview - Norsemont Mining owns a 100% interest in the Choquelimpie project in northern Chile, which has an initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces [7] - The Choquelimpie project has over 1,700 drill holes and significant existing infrastructure, including roads, power, water, camp, and a 3,000-tonne-per-day mill [7] - The company is committed to responsible and sustainable resource development, utilizing modern exploration techniques to enhance shareholder value [7]