Nouveau Monde Mining Enterprises Inc. announced that it has received CAD 0.98 million in funding.
On December 27, 2013, the company issued 1,150,000 units at CAD 0.20 per share for CAD 230,000 and 2,607,885 flow-through shares at CAD 0.26 per share for gross proceeds of CAD 678,050.10 bringing the total proceeds raised to CAD 908,050.1. Each warrant will entitle the holder to purchase one common share at a price of CAD 0.26 per share for a period of 18 months following the closing of the units. The transaction included participation from Eric Desaulniers, Chief Executive Officer, President and Not Independent Director for 60,000 units and 50,000 flow-through shares, Jacques Letendre, Independent Director for 30,000 units and 23,000 flow-through shares, Ian Bliss, Director for 30,000 units and 23,000 flow-through shares, and Roderick M. Bryden, Independent Director for 30,000 units and 23,000 flow-through shares. The company paid finders' fees of CAD 46,360.80 and 178,311 warrants to Canaccord Genuity Corp., Raymond James Ltd., Secutor Capital Management Corp., Richardson GMP Limited, James Edward Capital Corporation, and Wolverton Securities Ltd for flow-through shares. The securities issued are subject to a hold period expiring on April 28, 2014.
On January 8, 2014, Nouveau Monde Mining Enterprises Inc. closed the transaction. The company issued 350,000 units for gross proceeds of CAD 70,000 in the second tranche. The transaction involved participation from seven placees including the insiders of the comapny. The company did not pay any finder's fees in this tranche. The securities issued are subject to a hold period of four months and a day, ending on May 9, 2014. The company raised CAD 978,050.10 in the transaction. TSX Venture Exchange has accepted for filing the documentation with respect to the transaction.