North American Rare Metals reports it has an agreement with IMEX (1987) Exploration and Company Limited Partnership providing for a private placement of $1,500,000 on a flow-through basis, at a price of $1.20 per share.
North American says the proceeds from the placement will be used for exploration work on the company’s gold discovery in the Casa Berardi area of Quebec, which it shares with Dundee-Palliser Resources.
The agreement is subject to all regulatory approvals, the company adds.
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