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Northern Empire Resources Corp
Symbol NM
Shares Issued 23,378,299
Close 2016-07-05 C$ 0.175
Market Cap C$ 4,091,202
Recent Sedar+ Documents

Northern Empire closes $1.35-million private placement

2016-07-05 17:54 ET - News Release

Mr. Michael Allen reports

NORTHERN EMPIRE CLOSES $1.35 MILLION PRIVATE PLACEMENT

Northern Empire Resources Corp. has closed its non-brokered private placement for gross proceeds of $1,357,994.55.

The offering was oversubscribed, and the company issued an additional 2,053,297 units to what was previously announced, for a total of 9,053,297 units of the company.

Units were priced at 15 cents each, and consist of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one additional common share at a price of 25 cents per common share until Jan. 5, 2018.

Northern Empire will apply the net proceeds of the offering to hold and advance the company's portfolio of gold exploration projects in North America, including the Richardson property gold project in Alaska, and for general corporate purposes.

The company paid commissions to finders under the placement consisting of aggregate cash commissions of $44,939.69 and the issuance of an aggregate of 299,595 finder's warrants.

Each finder's warrant entitles the holder to purchase one common share of the company at a price of 25 cents per common share until Jan. 5, 2018.

All securities issued or issuable under the offering are subject to a four-month hold period expiring on Nov. 6, 2016, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.

We seek Safe Harbor.

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