Norsemont Closes Second Tranche of Private Placement
NORSEMONT MINING INC.
Suite 610, 700 West Pender Street
Vancouver, BC, V6C 1G8
Phone: 604-669-9788
NEWS RELEASE
NORSEMONT CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
Vancouver, B.C., September 3, 2020 – Norsemont Mining Inc. (CSE:NOM) (CNSX:NOM.CN) (OTCQB:NRRSF)
(FWB:LXZ1) ("Norsemont" or the "Company") is pleased to announce that it has closed the second tranche of its
non-brokered private placement (the “Offering”) for additional gross proceeds of $ 865,400. The Company has
raised an aggregate of $2,173,800 under the first and second tranches of the Offering.
Under the second tranche, the Company issued 540,875 units (each, a “Unit”) at a price of $1.60 per Unit. Each
Unit consists of one common share in the capital of the Company (each, a “Share”) and one transferable common
share purchase warrant (each, a “ Warrant”). Each Warrant entitles the holder thereof to acquire one Share
(each, a “Warrant Share”) at a price of $2.50 per Warrant Share until 5:00 p.m. (Vancouver time) on the date
that is twelve (12) month following the Closing Date, subject to an acceleration provision whereby if the Shares
trade at a price on the Canadian Securities Exchange (or such other exchange on which the Shares may be traded
at such time) (the “Exchange”) of $3.25 or greater per Share for a period of 10 consecutive trading days after
four months and one day from the closing of the Offering (the “Closing”), the Company may accelerate the expiry
of the Warrants by giving notice to the holders thereof (by disseminatin g a news release advising of the
acceleration of the expiry date of Warrants) and, in such case, the Warrants will expire on the 31st day after the
date of such notice.
The net p roceeds from the Offering will be used to fund the Company’s upcoming work pr ogram on the
Choquelimpie gold/silver project in Northern Chile and general working capital.
In connection with the Offering, the Company shall pay to eligible persons, finders’ fees of $60,578, equal to 7%
of the gross proceeds of the Offering raised from subscribers introduced by the finders to the Company .
All securities to be issued under the Offering will be subject to a four month and one day hold period in
accordance with applicable Canadian securities laws.
The Offering is being conducted pursuant to available prospectus exemptions including sales to accredited
investors worldwide (Canadian, US and Foreign residents) , family, friends and business associates of directors
and officers of the Company and to purchasers who have obtained advice from a registered investment dealer
pursuant to the exemption set out in BC Instrument 45-536 (Exemption from Prospectus Requirement for Certain
Distributions through an Investment Dealer) (the “Investment Dealer Exe mption”). In connection with the
Investment Dealer Exemption, the Company confirms that, as of the date hereof, there is no material fact or
material change in respect of the Company that has not been generally disclosed.
The securities to be issued pursuant to the Offering have not been and will not be registered under the United
States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws, and may not be offered
or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under
the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from
such registration requirements is available. This news release does not constitute an offer to sell or a solicitation
to buy such securities in the United States.
On behalf of the Board of Directors,
NORSEMONT MINING INC.
Allan Larmour
CEO
For more information, please contact the Company at:
Telephone: (604) 669-9788; Facsimile: (604) 669-9768
Forward-Looking Statements:
This news release contains forward -looking statements and forward -looking information (collectively, "forward -looking
statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely
historical are forward -looking statements and include statements regarding beliefs, plans, expectations and orientations
regarding the future including, without limitation, the intended use of proceeds of the Private Placement. Although the
Company believes that such statements are reasonable and reflect expectations of future developments and other factors
which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will
prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects",
"anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such
words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would,
might or will occur or be taken or achieved. In making the forward -looking statements in this news relea se, the Company
has applied several material assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to differ materially from any future results, performance or
achievements expressed or implied by the forward-looking information. Such risks and other factors include the inability of
the Company to execute its proposed business plan, and carry out planned future activities. The novel coronavirus and
COVID-19 pose new risks that are currently indescribable and immeasurable. Other factors may also adversely affect the
future results or performance of the Company, including general economic, market or business conditions, the fut ure price
of gold, changes in the financial markets and in the demand for gold, changes in laws, regulations and policies affecting the
mineral exploration industry, as well as the risks and uncertainties which are more fully described in the Company's ann ual
and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities
regulatory authorities under the Company's profile at www.sedar.com. Readers are cautioned that forward -looking
statements are not gua rantees of future performance or events and, accordingly, are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty of such statements.
These forward-looking statements are made as of the date of this news rele ase and, unless required by applicable law, the
Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could
differ from those projected in these forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or disapproved the information contained herein.
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