Noront Resources Enters Into Agreement with Resource Capital Fund V LP

Noront Resources Ltd.(TSXV:NOT) announced the proposal of a new private placement with Resource Capital Fund V LP. The Company is aiming to close the offering around May 8, 2012.

As quoted in the press release:

it has entered into an agreement with Resource Capital Fund V LP, pursuant to which RCF V has agreed to subscribe for 19,230,769 common shares in the capital of the Company at a purchase price of $0.52 per Common Share, representing net proceeds to the Company of approximately $ CAD 10.0 million.

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