Proceeds Total C$15
million
VANCOUVER, Sept. 10, 2015 /PRNewswire/ - Northern Dynasty
Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the
"Company") announces, further to its press releases of August 10 and August 31,
2015, that it has completed the second tranche closing of
the fundraising through a private placement of 11,975,592 Special
Warrants at a price of C$0.399 per
Special Warrant for gross proceeds of C$4.78
million. The Special Warrants will convert on exercise
into common shares of Northern Dynasty on a one-for-one basis.
When combined with the first tranche proceeds of C$10.22 million, total gross proceeds from the
Special Warrant non-brokered placement are just over C$15 million.
Additionally, as previously announced on September 1, 2015, the definitive agreement with
Cannon Point Resources ("Cannon Point") in respect of the
acquisition of 100% of the outstanding securities of Cannon Point
has been signed. Assuming the timely receipt of shareholder,
court and regulatory approvals, it is expected that this
acquisition will close in October
2015.
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.