(January 20) – Digital Gem Corp., the sapphire miner turned online broker, has announced a proposed rights offering. The proceeds will be used to raise working capital, provide additional capital for its wholly owned subsidiary, Northern Securities Inc., and to fund the marketing of its eNorthern online financial services websites.
On January 19, the eNorthern public offering site was finally launched at www.enorthern.com. The site allows users to check out prospectuses online, open accounts and buy offerings over the Internet.
One of its first offerings will be its own rights offering. “As a medium-sized business that’s growing fast, we’re posting the offering on our eNorthern site,” says. Nadir Desai, chairman and CEO of the firm.
Vancouver’s Goepel McDermid Inc. is acting as the offering’s soliciting dealer manager and will form a selling syndicate including Northern. The offering is subject to regulatory approval, and its terms will be announced once approval has been granted.
The firm says it plans other sites for online stock trading, mergers and acquisitions, private placements and commercial mortgages.
-IE Staff