NLR Reduces Outstanding Debt and Corporate Update
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NLR Reduces Outstanding Debt and
Provides Corporate Update
Vancouver, British Columbia. January 15, 2024, Northern Lights Resources Corp.
(“Northern Lights” or the “Company”) (CSE: NLR, OTC: NLRCF) is pleased to announce
that it has made a payment of 1,100,000 Reyna Silver common shares (equivalent to
approximately US$147,596) to Mirabel Capital Ltd (“Investor”) as a debt payment under
the terms of the revised debt agreement announced by the Company on May 5, 2023
(“Revised Agreement”). There is approximately US$237,504 of debt remaining payable.
Under the terms of the Revised Agreement the outstanding debt is payable in cash by
February 23, 2024. The Company is currently in discussions with the Investor regarding
making arrangements to extend the Revised Agreement to allow for the remaining debt
to be repaid with shares of Reyna Silver Corp that the Company owns. Northern Lights
owns a remai ning 3,000,000 million common shares of Reyna Silver Corp that are
currently escrowed with 1,500,000 becoming free trading on June 23, 2024 and the
remaining 1,500,000 becoming free trading on December 23, 2024.
The Company also would also like to announces additional corporate matters,
On November 7, 2023 , the Company expired 255,000 Corporate Incentive Common
Stock Options to have outstanding 640,407 Incentive Stock Options priced between $0.50
to $0.75.
As of January 15, 2024 the Company would like to update all investors that the Company
has a total of 9,622,178 Warrants to purchase common stock in the Company of which
3,150,000 Warrants priced at $0.10 expiring July 27, 2024, 280,000 Warrants to
purchase common stock in the Company priced at $0.685 expiring June 4, 2025, 342,000
Warrants priced at $0.75 expiring July 4, 2024, 1,262,777 Warrants priced at $0.75
expiring June 22, 2025, 4,373,001 Warrants priced at $0.75 expiring on August 19, 2025
and 214,400 Warrants priced at $0.75 expiring on August 19, 2025.
Furthermore the Company also would like to inform the investing public that as of end of
November, Northern Lights Resources temporarily delisted from the OTC BB to trade as
a fully reporting company on the OTC Pink market.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: [email protected]
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: [email protected]
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Tel: +1 604 608 6163
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. Northern Lights also has exposure to the Medicine Springs Project in
Nevada via an equity position in Reyna Silver Corp plus a 1% future NSR royalty on the
Medicine Springs Project.
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other
Northern Lights Resour ces 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 pl acement; use of funds; the business and operations of the Company after the
proposed closing of the Offering. There is no assurance any further advances of funds from the Investor
will be forthcoming. 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 surrou nding 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.