On December 30, 2014, High North Resources Ltd. (High North) announced the successful closing of a private placement of 12,915,146 common shares, issued on a "flow-through" basis under the Income Tax Act (Canada), for aggregate gross proceeds of C$2,195,574.82.
High North will initially use the proceeds to fund their exploration and development program, including funding expenditures that qualify as "Canadian Exploration Expenses" as defined in the Income Tax Act, which will be renounced to subscribers for the 2014 taxation year. High North is a TSXV listed oil and gas development company with assets in the Peace River Arch area of north western Alberta.
Fasken advised High North with a team that included Michael Black and Sarah Gingrich.
