Northern Lights Resources Announces Closing of Upsized Non-Brokered Private Placement
Vancouver - Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE: NLR) (OTC: NLRCF), is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering"), which was upsized due to strong investor demand, for gross proceeds of C$400,000. The Offering consisted of the issuance of units (the "Units") at a price of $0.10 per Unit. Each Unit is comprised of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.10 for a period of 36 months from the date of issuance.
Proceeds from the Offering will be used to advance exploration activities on the Company's mineral properties and for general corporate purposes.
"The impressive demand for this hard dollar, upsized financing is a reflection of the strength of the work we're doing and the potential of our exploration portfolio. We are grateful for the support shown by our current shareholders, Board and new shareholders in raising the proceeds needed to enable us to advance our three permitted properties, fast-tracking strategic initiatives aimed at unlocking substantial value for our shareholders". commented Luka Capin, Chief Executive Officer of Northern Lights.
No finder's fees are payable in connection with the Offering.
All securities issued pursuant to the Offering are subject to a statutory hold period under applicable Canadian securities laws expiring four months and one day from the date of issuance.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
Qualified Person
Steven McMullan, P. Geo. supervised the preparation of and reviewed and approved the scientific and technical information contained in this news release. Mr McMullan is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For Further Information
Luka Capin, Chief Executive Officer
Email: ir@northernlightsresources.com
Tel: +1 647 625 8669
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company advancing three key projects: the Horetzky Copper Project, located in the Babine Porphyry belt of central British Columbia, the Pup Copper Project in the Yukon and the 100% owned, Secret Pass Gold Project located in Arizona. Northern Lights also holds a 1% NSR royalty on the Medicine Springs Silver Project in Nevada owned by Torex Gold Resources Inc.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and on the OTC under the ticker "NLRCF". This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements include, but are not limited to, statements regarding the anticipated use of proceeds from the Offering and the Company's future exploration activities and corporate plans. Forward-looking statements are generally identified by words such as "anticipates", "expects", "intends", "plans", "believes", or similar expressions, or statements that certain actions, events or results "may", "could", "would", or "will" occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to exploration activities, changes in market conditions, and other risks described in the Company's public disclosure filings available on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update or revise any forward-looking statements except as required by applicable securities laws.
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