Quartz Mountain Resources Ltd (TSX-V:QZM) announced a non-brokered private placement of 1,752,409 flow-through shares at a price of CAD 0.30 per share and 461,914 non-flow-through shares at a price of CAD 0.25 per share for gross proceeds of CAD 641,201.20 on December 24, 2012. The transaction will see participation from 11 placees including Robert Dickinson who will purchase 86,957 non-flow-through shares, United Mineral Services Ltd which will purchase 260,872 flow-through ... shares, James Kerr who will purchase 66,000 flow-through shares and 22,000 non-flow-through shares, Lena Brommeland who will purchase 129,000 flow-through shares and 43,000 non-flow-through shares, Ronald Thiessen who will purchase 260,871 flow-through shares, and Thiessen Family Trust which will purchase 86,957 non-flow-through shares. The company will pay cash finder's fee of CAD 6,000 to Marquest Capital Markets and CAD 6,000 to Rob Sinclaire. The shares issued will be subject to a hold period expiring four months and a day after closing. On December 28, 2012, the company annoucned that the transaction is expected to close on the same day.
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