Announcement of $3.250,000 Private Placement and Strategic Investor
{01325159;1} 1
Northern Lights Resources Announces
$3,250,000 Private Placement and Strategic Investor
VANCOUVER, BC – July 11, 2019 - Northern Lights Resources Corp. (“Northern Lights” or the
“Company”) is pleased to announce that it has arranged a non-brokered private placement
financing of up to 65,000,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of
up to $3,250,000 (the “Private Placement”). Each Unit will consist of one common share (“Share”)
and one share purchase warrant (“Warrant”). Each Warrant is exercisable into one Share at a price
of $0.075 per Share for a period of 24 months following the date of issue of the Units.
In conjunction with the announcement of the Private Placement, the Company is extremely pleased
to announce it has received a subscription from one strategic investor (the “Strategic Investor”) for
55,000,000 Units or $2,750,000. The Strategic Investor has also entered into a lockup agreement
with the Company whereby the Strategic Investor has undertaken not to sell, trade or otherwise
dispose of the Shares or Warrants subscribed for in the Financing for an escrow period as follows:
Percentage of
Shares/Warrants
Legend Expiry Date
30% 12 months following the date of issue
30% 18 months following the date of issue
40% 24 months following the date of issue
The Company intends to use the proceeds from the Private Placement for funding exploration
drilling at its Medicine Springs Project in Nevada, for new opportunities and for general working
capital purposes.
Northern Lights CEO, Jason Bahnsen commented “This financing will ensure Northern Lights
is fully funded to complete the recently announced Phase 1 drilling program at our flagship
Medicine Springs silver/zinc/lead project in Nevada and will also well position the Company to
explore new business opportunities.”
{01325159;1}
2
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth oriented exploration and development company that
is advancing the Medicine Springs Project located in Nevada. Northern Lights is earning a 100%
equity interest in the Medicine Springs Project, a prospective silver – zinc – lead property located
in southeastern Elko County, Nevada.
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other Northern
Lights Resources news releases can be viewed at www.sedar.com and
www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release
includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private
placement; use of funds; the business and operations of the Company after the proposed closing of the Offering.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed or implied by such forward-looking statements.
Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties;
delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral
exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise, except as required
by law.
Albert Timcke, Executive Chairman and President
Email: [email protected]
Tel: +1 604 608 6163
Or
Jason Bahnsen, Chief Executive Officer
Email: [email protected]
Tel: +1 604 608 6163