Uncategorized
Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Email this to someone
email

Northern Vertex Financing Oversubscribed at US$2.6 Million From US$2 Million, Closes Initial Tranche of US$2 Million

 

 

 

 

 

Northern Vertex Mining Corp. (TSX-V: NEE) (OTC Nasdaq Intl.: NHVCF)  is pleased to announce that further to its press release dated February 19, 2019, it has closed the initial tranche of its oversubscribed non-brokered private placement and has issued an aggregate of 11,112,500 units at a purchase price of CAD$0.24 per Unit for gross proceeds to the Company of US$2,020,000. Each Unit consists of one common share and one transferable common share purchase warrant. Each Warrant entitles the holder to acquire one Common Share at an exercise price of CAD$0.40 per share until February 21, 2021. Cash finder’s fees to arm’s length parties totaling US$120,136 have been paid on this portion of the Private Placement.

 

The final tranche of the Private Placement to raise approximately a further US$580,000 by the issuance of approximately an additional 3,333,333 Units is expected to close shortly, for approximate aggregate total gross proceeds to Northern Vertex under the Private Placement of US$2,600,000. The Company will announce the closing of the final tranche upon completion.

 

The net proceeds of the Private Placement will be used to fund the continued ramp up of mining operations at the Moss Mine, NW Arizona and for working capital and general corporate purposes.  All securities issued pursuant to the Private Placement are subject to a four month hold period under applicable securities laws in Canada, ending on June 22, 2019. The Private Placement is subject to the final acceptance of the TSX Venture Exchange.

 

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any State Securities Laws and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act. This release does not constitute an offer for sale of securities in the United States.

 

About Northern Vertex

 

Northern Vertex Mining Corp., the newest gold producer in the US, is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the flagship Moss Mine achieving commercial production the Company intends to consolidate additional producing or near-term production gold assets within the Western US. Through mergers and acquisitions Northern Vertex’s corporate goal is to become a mid-tier gold producer with over 200,000 ounces of gold production annually.

 

Posted February 21, 2019

Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Email this to someone
email

MORE or "UNCATEGORIZED"


Argo Gold Drills 132 g/t Gold over 1.8 m At Its Flagship Woco Gold Project

Argo Gold (CSE: ARQ) is pleased to announce the first batch of dr... READ MORE

March 22, 2019

ATAC Resources Ltd. Closes Oversubscribed $3.68M Private Placement

ATAC Resources Ltd. (TSX-V: ATC) announces that it has closed the... READ MORE

March 22, 2019

Golden Arrow Closes Oversubscribed Final Tranche of the Private Placement

Golden Arrow Resources Corporation (TSX-V: GRG) (FSE: G6A) (OTCQB... READ MORE

March 22, 2019

Fertilizer Industry Concerned Over Lack of Consultation on Saskatchewan Government's $117 Million Potash Tax Hit

Fertilizer Canada is concerned about the lack of consultation fro... READ MORE

March 21, 2019

Great Bear Drills Multiple High-Grade Gold Veins in Hinge Zone Including 30.15 g/t Gold Over 7.25m

Great Bear Resources (TSX-V: GBR) reported drill results from the... READ MORE

March 21, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions