High North Resources Ltd. (TSXV:HN) announced a non-brokered private placement of up to 23,529,412 flow-through common shares at a price of CAD 0.17 per share for gross proceeds of up to CAD 4,000,000 on December 22, 2014. The company will issue securities in Canada and may also be sold in the United States pursuant to exemption provided under Regulation D. The transaction is expected to close on or about December 30, 2014. The securities issued in the transaction will be subject to a hold period of four months from the date of closing. The transaction is subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.

On December 30, 2014, High North Resources Ltd. closed the transaction. The company issued 12,915,146 flow-through common shares for gross proceeds of CAD 2,195,574.82. As part of the transaction, the company paid finder's fees of CAD 86,732.09 representing 6% of the gross proceeds. The transaction is subject to final approval from the TSX Venture Exchange. The transaction included participation from 12 places. Aggregate professional group subscribed for 1,470,000 shares. Integral Wealth Securities Limited, Wolverton Securities Ltd., and Richardson GMP Limited acted as finders to the company and received finder's fee of CAD 62,734, CAD 17,998, and CAD 6,000 respectively. Michael Black, Sarah Gingrich, Kathryn Samaras and Sierra Heisler of Fasken Martineau DuMoulin LLP acted as the legal advisors to the company.