VANCOUVER, Aug. 31, 2015 /CNW/ - Northern Dynasty Minerals
Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the
"Company") announces that further to its press release of
August 10, 2015 it has completed a
first tranche closing of the fundraising through a private
placement of 25,624,408 Special Warrants exercisable into the
Company's listed common shares at a price of C$0.399 per Special Warrant, for gross proceeds
of C$10.2 million. The Special
Warrants will convert on exercise into common shares of Northern
Dynasty on a one-for-one basis.
The company is also advancing towards completing definitive
agreements with Cannon Point Resources in respect of the
acquisition of 100% of the outstanding shares of Cannon Point.
The securities to be issued pursuant to this transaction have
not been registered under the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act"), and may not be offered or sold
in the United States absent
registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Northern Dynasty Minerals Ltd.
Northern Dynasty
is a mineral exploration and development company based in
Vancouver, Canada. Northern
Dynasty's principal asset is the Pebble Project in southwest
Alaska, USA, an initiative to
develop one of the world's most important mineral resources.
Ronald W. Thiessen
President & CEO
Forward Looking Information and other
Cautionary Factors
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, such as those that address the
in-progress financings and plan to complete certain regulatory
filings are forward-looking statements. These statements include
expectations about the likelihood of completing a financing and
merger transaction and the ability of the Company to secure
regulatory acceptance for its prospectus and registration
statements. Though the Company believes the expectations expressed
in its forward-looking statements are based on reasonable
assumptions, such statements are subject to future events and third
party discretion such as regulatory personnel. For more information
on the Company, and the risks and uncertainties connected with its
business, Investors should review the Company's home jurisdiction
filings at www.sedar.com and its filings with the United States
Securities and Exchange Commission.
SOURCE Northern Dynasty Minerals Ltd.