Northern Lights Finalizes Debt Settlement with Mirabel Capital and Completes Private Placement
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Northern Lights Finalizes Debt Settlement with
Mirabel Capital and Completes Private Placement
Vancouver, British Columbia, February 13, 2025, Northern Lights Resources Corp.
(“Northern Lights” or the “Company”) (CSE:NLR , OTC: NLRCF) is pleased to announce
that it has finalized a debt settlement agreement with Mirabel Capital, Ltd. (“ Mirabel
Capital”) and has completed a private placement raising aggregate proceeds of $100,000.
Debt Settlement with Mirabel Capital
Northern Lights has reached an agreement with Mirabel Capital for the settlement the
outstanding US$285,502 of debt owed by the Company , dated February 6, 2025 (the
“Settlement Agreement”).
Northern Lights has paid Mirabel Capital consideration of 1,500,000 common shares of
Renya Silver Corp. and C$100,000 cash as full repayment of all debt owing including
forgiving all accrued interest.
Completion of Private Placement
Northern Lights has completed the non -brokered private placement of 4,000,000
subscription receipts (“Subscription Receipts”) at an issue price of $0.025, as announced
February 3, 2025, raising aggregate gross proceeds of C$100,000 (the “Financing”).
With the completion of the Settlement Agreement with Mirabel Capital, the Subscription
Receipts have been converted to underlying units (‘Underlying Units”) on a one for one
basis. Each Underlying Unit consists of one (1) common share in the capital of Northern
Lights (an "Underlying Share") and one whole share purchase warrant (an " Underlying
Warrant"). Each Underlying Warrant will entitle the holder to acquire one (1) additional
common share, at an exercise price of C$0.05 per share, for a period of 24 months from
the issuance of the Underlying Units.
No finders fees are payable in connection with the debt settlement or the Financing.
For Further Information
Albert Timcke, Executive Chairman and President
Email: [email protected]
Tel: +1 604 608 6163
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Jason Bahnsen, Chief Executive Officer
Email: [email protected]
Tel: +1 604 608 6163
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth -oriented exploration and development
company advancing two key projects: the Horetzky Copper Project, located in the Babine
Porphyry belt of central British Columbia and the 100% owned, Secret Pass Gold Project
located in Arizona. Northern Lights also holds a 1% NSR royalty on the Medicine Springs
Silver Project in Nevada owned by Reyna Silver Corp.
Northern Lights Resources trades under the ticker of “NLR” on the CSE and on the OTC
under the ticker “NLRCF”. 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 pl acement; use of funds; the business and
operations of the Company after the proposed closing of the Financing. There is no assurance
any settlement agreement will be finalized with Mirabel . 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 reg ulatory 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 sta tements.
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.