VANCOUVER, British Columbia,
November 13, 2012 /PRNewswire/ --
/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
Northern Vertex Mining Corp. (TSX.V:NEE) (the "Company") is
pleased to announce a Non-Brokered Private Placement (the "Private
Placement") of up to approximately 6 million units (each "Unit") at
a purchase price of $1.25 per Unit,
for aggregate gross proceeds to the Company of up to $7,500,000.
Each Unit will consist of one common share ("Common Share") of
the Company and one-half of one transferable share purchase warrant
("Warrant"). Each whole Warrant will entitle the holder to
acquire one Common Share at an exercise price of $1.75 for a period of 24 months from the closing
date of the Private Placement. The expiry date of the Warrants may
be accelerated, at the sole option of the Company, to 30 business
days following the date on which the Company gives notice that its
common shares have closed for 21 consecutive trading days at a
price of $2.00 or greater.
In addition, the Company has granted an over-allotment option
(the "Option") to sell up to an additional 2 million Units pursuant
to the Offering, exercisable at any time prior to 48 hours before
the closing of the Offering.
The Company intends to use the net proceeds of the Offering for
the advancement of the Moss project, maintenance of other projects
and general corporate purposes. The Private Placement and
payment of any finder's fee are subject to acceptance by the TSX
Venture Exchange.
The closing date of the Offering is scheduled on or about
November 26, 2012. All securities
issued will be subject to a four month hold period. The Offering is
subject to a number of conditions, including, without limitation,
receipt of all regulatory approvals.
The securities being offered have not been, nor will they be
registered under the United States Securities Act of 1933, as
amended, or state securities laws and may not be offered or sold
within the United States or to, or
for the account or benefit of, U.S. persons absent U.S. federal and
state registration or an applicable exemption from the U.S.
registration requirements. This release does not constitute an
offer for sale of securities in the
United States.
About Northern Vertex: Northern Vertex is a gold exploration and
development company operating principally in the United States and Canada. The Company comprises an experienced
management group with a strong background in all aspects of
acquisition, exploration, development and financing of precious
metal mining projects. The Company's stated mandate is to acquire,
develop and advance gold projects that demonstrate near term
production potential and long-term sustainable growth.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Joseph Bardswich"
Director
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 to US Investors: This news release may contain
information about adjacent properties on which we have no right to
explore or mine. We advise U.S. investors that the SEC's mining
guidelines strictly prohibit information of this type in documents
filed with the SEC. U.S. investors are cautioned that mineral
deposits on adjacent properties are not indicative of mineral
deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such Statements.
For further information:
Please visit http://www.northernvertex.com or contact
Investor Relations at: +1-604-601-3656 or at +1-855-633-8798
(NEE. NHVCF)
