VANCOUVER (CP) -- The price is $200,000 in cash and 8 million equity units, with each unit containing one North American Gem common share and one two-year warrant to buy a share at 20 cents.
North American Gem stock traded Thursday at 12.5 cents on the TSX Venture Exchange, giving the equity units a current value of $1 million.
"Several different coal seams run on ACC's properties including the well-known Kittanning seam currently being mined at Cleveland-Cliff's White Tail mine six miles from ACC's project," stated North American Gem, which in addition to coal is active in molybdenum, gold, copper, and uranium in B.C., Alberta, the Northwest Territories and Ontario.
North American Gem said it paid a $15,000 finder's fee to Canaccord Capital Corp.
(c) The Canadian Press