Northern Lights Resources Announces Completion of Non-Brokered Private Placement of $100,000 in connection with Settlement of Mirabel Capital Debt
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Northern Lights Announces Completion of Non-Brokered Private
Placement of $100,000 in connection with Settlement of Mirabel Debt
Vancouver, British Columbia, February 3, 2025, Northern Lights Resources Corp.
(“Northern Lights” or the “Company”) (CSE:NLR, OTC: NLRCF) announces that it has
completed a non-brokered private placement ( the "Financing") of subscription receipts
(the "Subscription Receipts") for aggregate gross proceeds of C$ 100,000 with arms-
length private investor s (the “ Investors”). The Financing is being undertaken in
connection with the settlement of outstanding debt owe d by the Company to Mirabel
Capital, Ltd. (“Mirabel”).
Financing
The Investors have subscribed for four million Subscription Receipts offered by Northern
Lights at an issue price of C$0.0 25 per Subscription Receipt (the " Issue Price ") for
aggregate gross proceeds of C$100,000. Each Subscription Receipt entitles the Investor
to receive, upon completion of a debt settlement agreement between Northern Lights and
Mirabel, and without payment of any additional consideration, one (1) unit in the capital
of Northern Lights (each, an "Underlying Unit"), with each Underlying Unit consisting 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) ad ditional 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 Financing. Should a settlement
agreement not be finalized with Mirabel by February 14, 2025 (or such later date as may
be negotiated), the subscription proceeds will be returned to the Investor without interest
or deduction.
For Further Information
Albert Timcke, Executive Chairman and President
Email: [email protected]
Tel: +1 604 608 6163
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 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 pro posed private placement; 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 regulatory approvals; and the uncertainties s urrounding 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 p lace 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.