Norse Gold applies to have listing reactivated on TSX-V

Executive Summary

• Norse Gold Corp. is applying to the TSX Venture Exchange (TSX-V) to reactivate its listing as a Tier 2 mining issuer, moving from the NEX board.
• The company announced a non-brokered private placement offering up to 10 million units for gross proceeds of up to $1 million, intended to pay outstanding payables and fund exploration on its Yellowknife gold belt property.
• The company also approved the grant of 3.7 million stock options to directors, executive officers, and consultants.

Key Details

• Listing Reactivation: Application submitted to TSX-V for reactivation as a Tier 2 mining issuer; shares will be delisted from NEX upon approval. No assurance of acceptance or timeline provided.
• Private Placement Structure:
  • Offering size: Up to 10 million units.
  • Price: 10 cents per unit.
  • Gross Proceeds: Up to $1 million.
  • Unit Composition: One common share and one common share purchase warrant per unit.
  • Warrant Terms: Each whole warrant entitles holder to acquire one common share at an exercise price of 20 cents for a period of two years from issuance.
  • Hold Period: Four-month hold periods apply to shares and warrants under applicable securities laws.
• Use of Proceeds: Payment of outstanding payables and exploration work on the 3,231-hectare Yellowknife gold belt mineral property.
• Stock Option Grant:
  • Total Options: 3.7 million.
  • Recipients: 2 million granted to directors and executive officers; balance granted to consultants.
  • Exercise Price: 10 cents per share.
  • Expiration: On or before February 19, 2031.
• Asset Details: Primary asset is the 100% interest in the 3,231-hectare Morris Lake property (seven contiguous claims and three leases), located 75 km north of Yellowknife. Historic work includes over 15,000 meters of drilling.