Northern Vertex Pours First Gold at Moss Mine, AZ, USA






Northern Vertex Mining Corp. (TSX-V:NEE) (OTC Nasdaq Intl.: NHVCF) is pleased to announce its First Gold Pour at the Moss Mine in NW Arizona, USA, a commitment of up to US$100 Million for Acquisition and Development from its partner Sprott Private Resource Lending LP and a CAD$2 Million Non-Brokered Exploration Funding.



Northern Vertex President and CEO, Kenneth Berry stated, “The first gold pour at  the Moss Mine is an exciting milestone for all stakeholders. The transition to US Gold Producer is the culmination of six years of development, millions in economic activity and a dedication to safety with more than 1,967 days without a lost time accident. Furthermore, the commitment of up to US$100 Million by our partner Sprott for acquisitions and development positions Northern Vertex to aggressively pursue our goals for 2018 (see news release dated January 3, 2018).”



Narinder Nagra, Managing Partner of Sprott, commented“As one of the largest investors dedicated to the natural resource sector, Sprott is excited to continue its partnership with Northern Vertex on future acquisitions and developments.  Our partnership with the Northern Vertex team is consistent with our strategy of providing innovative and flexible capital to maximize the value of exceptional projects.”



Acquisition and Development Funding

In addition to the Moss Mine US$20M Senior Secured Credit Facility (see news releases dated November 7, 2016 and December 31, 2017), Sprott Lending has agreed to provide access for up to US$100 million in financing for future development projects and acquisitions (the “Development and Acquisition Facility”). The agreement provides that in the event of: (i) a proposed acquisition of a new project or entity; or (ii) the expansion of any existing project, the parties will enter into good faith negotiations regarding the terms of financing of up to US$100 million. The Development and Acquisition Facility is subject to, among other items, documentation and approval by Sprott’s investment committee.



Exploration Funding


The Company also announces a Non-Brokered Private Placement of up to approximately 3,846,153 million units at a purchase price of $0.52 per Unit, for aggregate gross proceeds to the Company of up to CAD$2,000,000.  The Company has received unsolicited orders for the full commitment of this Private Placement.



Each Unit consists of one common share of the Company and one-half transferable share purchase warrant.  Each whole Warrant will entitle the holder to acquire one Common Share of the Company at an exercise price of $0.68 for a period of 24 months from the closing date of the Private Placement.  A cash finders’ fees within TSX Venture Exchange policy guidelines may be paid in connection with the Private Placement.



The Company intends to use the net proceeds of the Private Placement to conduct an exploration program in the Oatman District and for general working capital purposes.



All securities to be issued pursuant to the Private Placement will be subject to a four month hold period from the closing date under applicable securities laws in Canada and among other things, receipt by the Company of all necessary regulatory approvals, including the TSX Venture Exchange.



The securities being offered under the Private Placement have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.



About Northern Vertex


Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in NW Arizona, USA. The Company’s management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with its stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.


Posted March 13, 2018


Newrange Gold Closes First Tranche of Private Placement, Engages Renmark Financial Communications


March 16, 2018

American Manganese Inc. Discusses Artillery Peak Manganese Opportunities

Larry W. Reaugh, President and Chief Executive Officer of America... READ MORE

March 16, 2018

Bankers Cobalt Makes Near-Surface High Grade Copper and Cobalt Discovery at Kabolela

Bankers Cobalt Corp. (TSX-V:BANC) is pleased to announce results ... READ MORE

March 16, 2018

Stina Closes Final Tranche of $3 Million Financing

Stina Resources Ltd. (CSE: SQA) (OTCQB: STNUF) is pleased to anno... READ MORE

March 15, 2018

Blackrock Gold Closes Over-Subscribed Financing

Blackrock Gold Corporation (TSX-V: BRC) is pleased to announce th... READ MORE

March 15, 2018

Copyright 2018 The Prospector News - Site design by Spyderbaby Productions