VANCOUVER, March 26, 2019 /CNW/ - Northern Dynasty
Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern Dynasty" or
the "Company") announces that it has completed a non-brokered
private placement of 3,769,476 common shares of the Company
at a price of $0.86 (US$0.64) per share for gross proceeds of
approximately $3.2 million
(US$2.4 million). The shares are
subject to applicable resale restrictions, including a four month
and one day hold under Canadian securities legislation.
The proceeds of the private placement are anticipated to be used
for (i) operational expenditures, including engineering,
environmental, permitting and evaluation expenses associated with
the Pebble Project and the advancement of completion of the United
States Army Corps of Engineers Environmental Impact Study, (ii)
enhanced outreach and engagement with political and regulatory
offices in the Alaska state and
U.S. federal government, Alaska Native partners and broader
regional and state-wide stakeholder groups, and (iii) for general
corporate purposes.
The common shares 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, owned through
its wholly owned Alaska-based U.S.
subsidiary, Pebble Limited Partnership ("PLP"), is a 100% interest
in a contiguous block of 2,402 mineral claims in southwest
Alaska, including the Pebble
deposit. PLP is the proponent of the Pebble Project, 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 news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation, and
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively referred to as "forward-looking information"). The
use of any of the words "expect", "plan", "update" and similar
expressions are intended to identify forward-looking information or
statements. These statements include expectations about the
use of proceeds of the private placement, the finalization by the
United States Army Corps of Engineers of the Environmental Impact
Study, the ability of the Company to proceed with permit
applications for the development of the Pebble Project and the
ability of the Company to obtain the necessary federal and state
permits for the development of the Pebble Project. 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 at www.sec.gov.
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SOURCE Northern Dynasty Minerals Ltd.