VANCOUVER, May 29, 2020 /CNW/ - Northern Vertex Mining
Corp. (TSX.V: NEE) (OTC Nasdaq Intl.:
NHVCF) (the "Company" or "Northern Vertex")
announces that under the terms of the convertible debentures issued
under the convertible debenture indenture dated July 14, 2016 (the "Indenture") between
the Company and Computershare Trust Company of Canada, it has elected to satisfy its
obligation to pay an aggregate of $167,500 in interest accrued on the convertible
debentures by issuing to such debenture holders on the interest
payment date of June 1, 2020 an
aggregate of 598,196 common shares in the capital of the Company
(the "Common Shares"). The Company will pay to each such
debenture holder approximately 8.93 Common Shares per $100 principal amount of debentures held as at
the applicable interest payment record date. Under the terms of the
Indenture, no fractional Common Shares will be delivered upon
payment of the interest obligation and the Company is not required
to pay the cash equivalent of any amount less than $5.00. The issuance of Common Shares in payment
of interest remains subject to approval of the TSX Venture Exchange
(the "Exchange").
About Northern Vertex Mining Corp.
Northern Vertex Mining Corp. 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:
Forward-Looking Statements: 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 – including statements
regarding the approval of the Exchange for the interest payment in
Common Shares. These statements can be identified by the use of
words such as "expected", "may", "will" or similar terms.
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, such as
the Company not receiving Exchange approval. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date made. Except as otherwise required
by law, the Company expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
such statements to reflect any change in the Company's expectations
or any change in events, conditions or circumstances on which any
such statement is based.
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SOURCE Northern Vertex Mining Corp.
