/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Feb. 21, 2019 /CNW/ - Northern Vertex Mining
Corp. (TSX.V: NEE) (OTC Nasdaq Intl.:
NHVCF) (the "Company" or "Northern Vertex")
is pleased to announce that further to its press release dated
February 19, 2019, it has closed the
initial tranche of its oversubscribed non-brokered private
placement (the "Private Placement") and has issued an aggregate of
11,112,500 units (each a "Unit") at a purchase price of
CAD$0.24 per Unit for gross proceeds
to the Company of US$2,020,000. Each
Unit consists of one common share ("Common Share") and one
transferable common share purchase warrant ("Warrant"). Each
Warrant entitles the holder to acquire one Common Share at an
exercise price of CAD$0.40 per share
until February 21, 2021. Cash
finder's fees to arm's length parties totaling US$120,136 have been paid on this portion of the
Private Placement.
The final tranche of the Private Placement to raise
approximately a further US$580,000 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
US$2,600,000. The Company will
announce the closing of the final tranche upon completion.
The net proceeds of the Private Placement will be used to fund
the continued ramp up of mining operations at the Moss Mine,
NW 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.
The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, or any State Securities Laws and may not be offered or
sold in the United States or to
the account or benefit of a U.S. person absent an exemption from
the registration requirements of such Act. This release does not
constitute an offer for sale of securities in the United States.
About Northern Vertex
Northern Vertex Mining Corp.,
the newest gold producer in the US, is focused on low cost gold and
silver production at its 100% owned Moss Mine in NW 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 US. 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.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry"
President & CEO
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:
The information in
this news release has been prepared as at February 20, 2019. Certain statements in this
news release, referred to herein as "forward-looking statements",
constitute "forward-looking statements" under the provisions of
Canadian provincial securities laws. These statements can be
identified by the use of words such as "expected", "may", "will" or
similar terms, and include, without restriction, the receipt of TSX
Venture Exchange final acceptance of the private
placement. More particularly, this release contains
statements concerning the closing of the balance of the Private
Placement. Accordingly, there is a risk that the Private Placement
will not be completely sold, completed within the anticipated time
or at all.
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. To the best of management's knowledge, 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.
SOURCE Northern Vertex Mining Corp.
