Northern Vertex Announces Debenture Payment and Option Grant
VANCOUVER, July 2, 2021 - Northern Vertex Mining Corp. (TSXV: NEE) (USOTC: NHVCF) ("Northern Vertex" or the "Company") a Western U.S. focused gold producer with district-scale exploration potential in the Walker Lane Trend, announced today that under the terms of the convertible debentures issued under the convertible debenture indenture dated July 31, 2020 (the "Indenture") between the Company and Computershare Trust Company of Canada, it has elected to satisfy its obligation to pay an aggregate of C$166,371 in interest accrued on the C$6.71 million convertible debentures by issuing to such debenture holders on the interest payment date of June 30, 2021 an aggregate of 519,910 common shares.
The Company will pay to each such debenture holder approximately 7.75 common shares per $100 principal amount of Debentures held as at the applicable interest payment record date. Under the terms of the Debenture, no fractional common shares will be delivered upon payment of the interest obligation and the Company is not required to pay the cash equivalent of any amount less than $5.00. The issuance of common shares in payment of interest remains subject to TSX Venture Exchange approval.
Stock Option Grant
The Company reports stock options have been granted to employees, officers, and consultants of the Company to purchase up to an aggregate of 7 million shares at a price of C$0.32 per share for a period of five years.
Northern Vertex Engages Proconsul Capital Ltd.
Eclipse has entered into an investment relations agreement (the "Agreement") with Proconsul Capital Ltd. ("Proconsul"). Pursuant to the Agreement Proconsul will provide investor outreach and road show coordination across Canada and will be paid $2,500 plus GST per month. The Agreement may be terminated by either party on one month's notice and remains subject to TSX Venture Exchange acceptance.
About Northern Vertex Mining Corp.
Northern Vertex offers investors a rare combination of cash flow, production, top-tier management and exceptional exploration potential within two projects on the Walker Lane Gold Trend of western Nevada and Arizona. Management is executing a clear strategy that expands production and resources at the Moss Mine in Arizona while aggressively exploring the Hercules Project in Nevada.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Michael G. Allen"
TSXV: NEE | US: NHVCF | NEE.WT | Frankfurt: 54N | ISIN: CA6660061012 | WKN: A1JUA0
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
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SOURCE Northern Vertex Mining Corp.
CORPORATE INQUIRIES: Michael G. Allen, President, Company Website: www.northernvertex.com, +1 (855) 633-8798 Toll Free, +1 (604) 601-3656 Office, Email: email@example.com