Resource Capital Fund V L.P. Acquires Additional Shares of Noront Resources Ltd.
DENVER, May 10, 2012 /CNW/ - Resource Capital Fund V L.P. ("RCF") reports that it has acquired ownership of 19,230,769 common shares ("Common Shares") in the capital of Noront Resources Ltd. ("Noront") by way of a private placement transaction as previously announced by Noront on April 24, 2012, at a price of C$0.52 per Common Share, representing approximately 8.44% of Noront's issued and outstanding Common Shares (the "Transaction").
As a result of the Transaction, RCF will own an aggregate of 41,425,756 Common Shares in the capital of Noront, representing approximately 18.19% of Noront's issued and outstanding Common Shares and 16.57% on a fully diluted basis.
The Common Shares were acquired for investment purposes. RCF will evaluate its investment in Noront from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in Noront as circumstances require.
For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Noront's profile on the SEDAR website www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Resource Capital Fund V L.P.
1400 Sixteenth Street, Suite 200,
Denver, CO, 80202,
Telephone: (720) 946-1444
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