Well I guess we have to be looking at the new BOD acting on something in a positive way with the flow through financing having closed yesterday. This is pretty good news, albeit we can add another 23,587,500 shares which creates further dilution, but we are young and have a ton of growth ahead of us. I would very much like these BOD members to address us with some idea of their game plan. If Mr. Hamilton is scanning this site perhaps he could determine if that would be a good idea with Mr. Parisotto, if he sees how many on this forum would like an update of operations. And what about Kevin Feeney leaving. I don't remember if he was placed on the BOD to satisfy us or Rosseau. I'm at the point I'm confused and want answers. The stock is still drifting down, as are many others. The financing shows the company has something big and that down the road any investment into it will be well rewarded. Clarification and confirmation of the need for a new Board Member replacing Mr Feeney at this time would be most helpful, and I don't feel we would be considered a "sqeeky wheel" for asking these things.
Mustangman
Noront closes financing
Thu Dec 4, 6:16 PM
TORONTO, Dec. 4 /CNW/ - Noront Resources Ltd. ("Noront") (TSX Venture: NOT.V) is pleased to announce that it has successfully closed its previously announced flow-through private placement financing. Gross proceeds of $18,870,000 were raised through the issuance of 23,587,500 flow-through common shares at a price of $0.80 per share. This placement was effected on a non-brokered placement basis, with the hold periods in respect of such issuances expiring on March 29, and April 5, 2009. Finder's fees of $754,800 were paid to various arm's-length parties in respect of the offering.
The proceeds of this placement will be used for further exploration of Noront's McFaulds Lake projects.
Paul Parisotto, Interim co-CEO stated: "It is a testament to the quality of Noront's assets, that we have been able to complete this financing in these difficult market conditions."
In addition, Noront wishes to advise that Kevin Feeney, CFO has left Noront. Noront wishes Mr. Feeney well in his future endeavours and thanks him for his contributions to the company. Noront has begun the process of identifying a successor for this office.
