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Norra Metals (TSXV:NORA) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $1,250,000 from the placement of up to 25 million units priced at $0.05 per unit. The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.15 for 24 months.

Additional Information:

Company: Norra Metals
Website: http://www.NorraMetals.com
Stock Symbol: TSXV: NORA
Date Published: Aug 20, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Norra Metals has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1,250,000 from the placement of up to 25 million units priced at $0.05 per unit.

The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.15 for 24 months.

In the event the private placement is oversubscribed, the company may increase the placement by 10%

The shares are currently trading at $0.055.

Norra Metals, a Vancouver based Canadian precious and base metals exploration company, has two exploration projects in Norway, which it acquired from EMX Royalty Corp. in December 2018.

The Bleikvassli property is composed of six contiguous exploration licences totalling 6000 hectares.

The most prominent feature of the property is the Bleikvassli mine, a past-producing SEDEX-style sediment-hosted massive sulphide lead-zinc deposit with minor copper, gold and silver credits.

The mine closed in 1997, following continuous operation since 1957 which saw the extraction of 5 million tonnes grading 4.0% zinc, 2% lead, 0.15% copper, and 25 grams per tonne silver.

The Meråker property is composed of twenty-one contiguous mineral licences totalling 20,300 hectares.

There is a long history of mining on the Meråker property, with production of copper ore from VMS deposits dating back to the 1700’s and continuing until the early 1900’s.

The Norwegian Geological Survey databases of surface rock samples and mineral occurrences both record an abundance of mineralized locations scattered throughout the property, with economically significant values of copper, zinc, gold and silver at multiple locales.

There is very good exploration potential on both properties and Bleikvassli as a former copper-zinc-silver producer, represents an immediate and significant exploration target for the company.

For more information, please visit the company’s website at www.NorraMetals.com, contact Mike Devji, CEO, at 604-258-8666 or by email at mike.devji@NorraMetals.com.

Investor relations is handled by Toni Perri, who can be reached at 604-818-7779 or by email at tony.perri@NorraMetals.com.

I’m Cassandra Bolinski for Investmentpitch Media