Noront Resources reports $20 million financing fully subscribed posted on Aug 10, 09 09:02AM Noront Resources reports $20 million financing fully subscribed 09:00 EDT Monday, August 10, 2009 << /THIS PRESS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ Symbol: NOT:TSX-V Shares Outstanding: 154,578,457 Fully Diluted: 161,033,457 >> TORONTO, Aug. 10 /CNW/ - Noront Resources Ltd. ("Noront") (TSX Venture: NOT) has been advised that its syndicate of agents, led by Wellington West Capital Markets Inc. (the "Agents") and including Dundee Securities Corporation, Genuity Capital Markets, Clarus Securities Inc. and IBK Capital Corp. has received commitments for its previously announced $20 million private placement offering of flow-through common shares ("Flow-Through Shares"). Noront has, subject to regulatory approval, granted the Agents, an option to offer for sale, on a best efforts basis, up to an additional $5 million of Flow-Through Shares at the offering price of $2.80 per share. Closing of the sale of the additional Flow-Through Shares shall take place concurrently with the closing of the sale of the Flow-Through Shares, which is anticipated to occur on or about August 26, 2009. All sales of Flow-Through Shares will be made on a private placement basis pursuant to exemptions from the prospectus requirements of applicable securities laws. Gross proceeds from the sale of the Flow-Through Shares will be used to fund ongoing exploration activities on the Company's McFauld's Lake project. These activities will be eligible for Canadian exploration expenses and renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2009. About Noront Resources Noront Resources is focused on its significant and multiple, high-grade nickel-copper-platinum-palladium, chromite and vanadium discoveries in an area known as the "Ring of Fire", an emerging multi-metals district located in the James Bay Lowlands of Ontario, Canada. Noront is the dominant land holder at the Ring of Fire and continues to delineate and prove up its discoveries with NI 43-101 technical and economic reports and an aggressive and well financed drill plan for 2009. All material information on Noront may be found on the company website www.norontresources.com or on SEDAR www.sedard.com. << ON BEHALF OF THE BOARD OF DIRECTORS: "Wesley (Wes) C. Hanson President & Chief Executive Officer" >>