Northfield Capital Secures $2.1M Through Private Placement

Northfield Capital Completes Successful Equity Offering

Northfield Capital Corporation (TSX-V: NFD.A) has recently wrapped up a significant non-brokered private placement, successfully raising $2,146,000 through the issuance of 107,300 units. Each unit is priced at $20.00 and comprises one class A restricted voting share and a share purchase warrant. Investors will be able to purchase shares at a price of $25.00 until December 2, 2029, giving them a solid opportunity to benefit from future growth.

How the Financing Will Be Utilized

With these fresh funds, Northfield Capital plans to allocate the proceeds towards essential operational expenditures, debt repayment, and various corporate activities. This strategic decision is geared towards fortifying the company’s financial standing and facilitating further growth.

Details of the Offering

All securities issued in connection with the private placement will be locked for a hold period of four months plus one day. Such guidelines are in place to maintain regulatory compliance while fostering investor confidence. The offering also remains contingent upon securing final approval from the TSX Venture Exchange, reflecting Northfield's commitment to adhering to standards of best practices.

Participation of Key Executives

Notably, Robert Cudney, the Chief Executive Officer of Northfield Capital, actively participated in this private placement by acquiring 6,250 units for a total value of $125,000. This action is recognized as a related party transaction, but it fell within exempt parameters as set forth by regulatory guidelines, thereby bypassing the need for formal valuations or minority approvals.

Investors' Gains and Future Outlook

Post-offering, Mr. Cudney will control a notable portion of shareholdings, now totaling 790,852 shares. This represents strategic growth potential and indicates a strong alignment of leadership with investor interests. Northfield Capital continues to attract attention within the resource and transportation sectors in which it operates, and such direct involvement from executives can strengthen the trust of stakeholders.

General Company Overview

Northfield Capital is an investment and merchant banking company focusing primarily on the critical minerals, precious metals, and transportation sectors. With a value-driven approach, the firm aims to seek out unique opportunities that bolster its growth prospects. Engaging in thoughtful investment strategies and prudent financial management, Northfield remains committed to enhancing shareholder value.

Get More Information

For further inquiries regarding this placement and Northfield Capital's activities, individuals are encouraged to reach out to Michael G. Leskovec, Chief Financial Officer. He is available at 416-628-5940 to address any questions or provide additional context around the company’s strategic initiatives.

Frequently Asked Questions

What was the total amount raised in the private placement?

The total amount raised was $2,146,000 through the issuance of 107,300 units.

What does each unit consist of?

Each unit comprises one class A restricted voting share and one share purchase warrant.

How long will the issued securities be held under a restriction?

The securities will be subject to a hold period of four months plus one day.

When can warrant holders exercise their rights?

Warrant holders can purchase shares at $25.00 until December 2, 2029, but certain clauses may accelerate this timeframe.

What is Northfield Capital's focus area?

The company primarily focuses on value investments in the resource sectors, including critical minerals and precious metals.

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