Completes Settlement of $2.2 Million Private Placement
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Northern Lights Completes Settlement
of $2.2 Million Private Placement
Sept 4, 2020 CSE Symbol: NLR
Vancouver, British Columbia. Northern Lights Resources Corp. (the “Company” or
“Northern Lights”) is pleased to announce that it has completed the settlement of the non-
brokered private placement that was announced closed on August 19,2020 (the “Private
Placement”).
The Company has issued 43,730,014 common shares (the “Shares”) and 45,874,014
warrants (the “Warrants”). The Shares are subject to a standard hold period until
December 20, 2020. Each Warrant is exercisable into one common share of the Company
at an exercise price of $0.075 until August 19, 2022.
Northern Lights has received total gross proceeds of $2,186,501 from the closing of the
Private Placement. The proceeds will be utilized for exploration work on the Company’s
Secret Pass gold project in Arizona and the Medicine Springs silver lead zinc project in
Nevada and for general working capital purposes.
The Company has paid total finders fees of $121,200 and 2,144,000 broker warrants in
relation to the closing of the Private Placement.
Northern Lights current total shares on issue are 108,270,688.
For further information, please contact:
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
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About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth oriented exploration and development
company that is advancing two projects: The 100% owned, Secret Pass Gold Project
located in Arizona ; and the Medicine Springs silver -zinc-lead property located in Elko
County Nevada where Northern Lights is earning 100%.
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 uncer tainties; 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 ev ents 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 statement s, whether as a result of new
information, future events or otherwise, except as required by law.