01:38:45 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Northern Vertex Mining Corp
Symbol NEE
Shares Issued 230,142,372
Close 2019-02-20 C$ 0.225
Market Cap C$ 51,782,034
Recent Sedar Documents

Northern Vertex closes first tranche of financing

2019-02-21 09:10 ET - News Release

Mr. Kenneth Berry reports

NORTHERN VERTEX FINANCING OVERSUBSCRIBED AT US$2.6 MILLION FROM US$2 MILLION, CLOSES INITIAL TRANCHE OF US$2 MILLION

Further to its press release dated Feb. 19, 2019, Northern Vertex Mining Corp. 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 24 cents per unit for gross proceeds to the company of $2.02-million (U.S.). 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 40 cents per share until Feb. 21, 2021. Cash finders' fees to arm's-length parties totalling $120,136 (U.S.) have been paid on this portion of the private placement.

The final tranche of the private placement to raise approximately a further $580,000 (U.S.) 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 $2.6-million (U.S.). The company will announce the closing of the final tranche upon completion.

The net proceeds of the private placement will be used to finance the continued ramp-up of mining operations at the Moss mine in northwest 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.

About Northern Vertex Mining Corp.

Northern Vertex, the newest gold producer in the United States, is focused on low-cost gold and silver production at its 100-per-cent-owned Moss mine in northwest 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 United States. 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.

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