Noront Resources Ltd. (TSXV: NOT) (“Noront” or the “Company”) announces that payment of interest in the amount of $371,700 for the second quarter of 2021 pursuant to a loan agreement between Noront and Wyloo Canada Holdings Pty Ltd. (“Wyloo”) dated February 26, 2013 (the “Loan Agreement”) will be satisfied by delivery of 1,111,945 common shares of the Company (the “Interest Shares”) at an effective price of $0.3343 per Interest Share. The Interest Shares will be subject to a four month hold period, expiring on November 21, 2021, and are subject to receipt of the final approval from the TSX Venture Exchange.
The calculation of the number of Interest Shares issued was based on the volume weighted average trading price of the common shares of the Company during the 20 trading days prior to June 30, 2021.
After giving effect to the issuance of the Interest Shares, there will be 458,268,304 common shares of the Company issued and outstanding.
About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com