Mr. Jason Bahnsen reports
NORTHERN LIGHTS COMPLETES $400,000 PRIVATE PLACEMENT
Northern Lights Resources Corp. has completed a non-brokered private placement to raise gross proceeds of $400,000 consisting of eight million units offered at a price of five cents per unit.
Northern Lights chief executive officer Jason Bahnsen commented: "We are delighted to welcome a new strategic investment group to Northern Lights. The funds raised will allow the company to begin work at the Horetzky project with a strategy to derisk the project and unlock value."
Each unit comprises one common share of the company and one common share purchase warrant. Each warrant is exercisable, at a price of six cents, into one common share for a period of 36 months from the date of issue.
The proceeds of the offering will be applied to advancing the company's Horetzky project located in the Babine copper porphyry belt of central British Columbia and other exploration and working capital requirements, positioning the company to achieve both immediate and long-term objectives.
No finders' fees are payable in connection with the offering. The securities issued under the offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the offering.
About Northern Lights Resources Corp.
Northern Lights Resources 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-per-cent-owned, Secret Pass
gold project located in Arizona. Northern Lights also holds a 1-per-cent NSR (net smelter return) royalty on the Medicine Springs silver project in Nevada owned by Torex Gold Resource Inc.
Northern Lights Resources trades under the ticker of NLR on the Canadian Securities Exchange and on the OTC under the ticker NLRCF.
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