RAB Special Situations (fka RAB)

[Tackler]

NOM Norsemont 3,985,878-share private placement

2005-05-16 16:30 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced April 13, 2005, and May 5, 2005.

Shares: 3,985,878

Purchase price: 80 cents per share

Warrants: 3,985,878 share purchase warrants to purchase 3,985,878 shares

Warrant exercise price: $1.10 for a two-year period; if the closing price of the company's shares is $2.00 or higher for 20 consecutive days, the company may give notice of an accelerated expiry date, which would be 20 calendar days following such notice.

Placees: 57

Pro group participation: Adam Skillen and Rachel Jacques, 22,500; Todd Robinson, 10,125, 5,625; Gundyco in trust for Brock Aynsley, 112,500

Insider participation: RAB Special Situations LP, 2.5 million; Aly Mawji, 86,625; Gundyco in trust for David Babbitt RRSP, 33,750; Marc Levy, 22,500; Amrit Paul Gill, 10,000

Finders' fees: Leona Pinsky will receive $2,160.00; Northern Securities Inc. will receive $720.00; CIBC Wood Gundy will receive $7,200.00; Lloyd Waller will receive $6,320.00; Araceli Delos Reyes will receive $1,008.00; Element & Associates will receive $160,000.00.