Northern Lights Completes Settlement of $2.2 Million Private Placement
Northern Lights Resources Corp. (the “Company” or “Northern Lights”) (CNSX:NLR.CN) is pleased to announce that it has completed the settlement of the non-brokered private placement that was announced closed on August 19,2020 (the “Private Placement”).
The Company has issued 43,730,014 common shares (the “Shares”) and 45,874,014 warrants (the “Warrants”). The Shares are subject to a standard hold period until December 20, 2020. Each Warrant is exercisable into one common share of the Company at an exercise price of $0.075 until August 19, 2022.
Northern Lights has received total gross proceeds of $2,186,501 from the closing of the Private Placement. The proceeds will be utilized for exploration work on the Company’s Secret Pass gold project in Arizona and the Medicine Springs silver lead zinc project in Nevada and for general working capital purposes.
The Company has paid total finders fees of $121,200 and 2,144,000 broker warrants in relation to the closing of the Private Placement.
Northern Lights current total shares on issue are 108,270,688.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Or
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead property located in Elko County Nevada where Northern Lights is earning 100%.
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com .
- Published in Mining, News Home, Northern Lights Resources
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