Norsemont Mining Eliminates Long Term Debt
16.02.2011 | CNW
TORONTO, ON and LIMA, Peru, Feb. 15 (CNW) - Norsemont Mining Inc. (the “Company“) (TSX: NOM, BVL: NOM) today announced that Sentient Executive GP III, Limited (“Sentient III“), the holder of $9.8 million principal amount of convertible promissory notes issued by the Company, has given notice of conversion of the entire outstanding balance under the notes. As a result, the Company's long term debt has been retired in full.Following the conversion of the Company's long term debt, the Company has 101,370,142 common shares issued and outstanding. To the best of the knowledge of management, the only shareholder holding more than 10% of the issued and outstanding shares of the Company is The Sentient group of funds (comprised of Sentient III, Sentient Executive GP I, Limited and Sentient (Aust.) Pty Ltd.) with an aggregate of 30,401,458 common shares, or 29.9% of the Company's issued and outstanding shares.
About Norsemont Mining
Norsemont is a mineral exploration and development company advancing the Constancia Copper project in Southern Peru. The Company's Constancia project is located in Cusco department, approximately 100 kilometres south of Cusco, Peru. The company's shares are traded on the Toronto Stock Exchange under the symbol NOM, and on the Bolsa de Valores, Lima (BVL) also under the symbol NOM.
For further information:
Patrick Evans
CEO
Norsemont Mining Inc
Phone: 416-408-4088
E-Mail: investors@norsemont.com
Web Site: www.norsemont.com