NEVADA – Vancouver-based Northern Empire Resources has bumped its $10-million bought deal up to $13 million. The company will now issue approximately 14.5 million shares at a price of $0.09 per share for gross proceeds of $13.0 million. Closing is expected before the end of this month.
In addition, the company has granted the underwriters, led by Cormark Securities, an over-allotment of up to 2.2 million additional shares at the same price. Should the over-allotment be taken up in full, the gross proceeds of the financing will be $15.0 million.
Northern Empire intends to use the net proceeds of the offering to advance its flagship Sterling heap leach gold mine 185 km northwest of Las Vegas.
The company hosts a website at www.NorthernEmp.com that has news, contact information a list of directors.