VANCOUVER, BC, Dec. 29, 2020 /CNW/ - Northern Vertex Mining
Corp. (TSXV: NEE) (OTC: NHVCF) (Nasdaq: NHVCF) (Intl.:
NHVCF) (the "Company" or "Northern
Vertex") reports that the Company has settled a contract
with the prior open pit mining contractor at the Moss mine.
Golden Vertex Corp., the Company's wholly-owned subsidiary, has
entered into an agreement and mutual release on December 23, 2020 with M.C. Donegan, LLC
("MCD"), a contractor that provided drilling and blasting
services to Golden Vertex. In exchange for a full release,
Golden Vertex will pay MCD US$250,000; and issue 365,100 common shares in
the capital of the Company (the "Settlement Shares") at a deemed
price of $0.53 per Settlement Share
for a total consideration of $US
400,000. The issuance of the Settlement Shares is subject to
the approval of The TSX Venture Exchange. The Settlement Shares
will be subject to a statutory hold period expiring on the date
that is four months and one day after the date of issuance.
About Northern Vertex Mining Corp.
Northern
Vertex Mining Corp. is focused on low cost gold and silver
production at its 100% owned Moss Mine in NW Arizona. The Company has experience across
all areas of operations, mine development, exploration,
acquisitions, and financing of mining projects. With operations at
the flagship Moss Mine achieving commercial production the Company
intends to consolidate additional producing or near-term production
gold assets within the Western US. Through mergers and acquisitions
Northern Vertex's corporate goal is to become a mid-tier gold
producer.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth
Berry"
President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements:
This news release contains
statements about our future business and planned activities. These
are "forward-looking" because we have used what we know and expect
today to make a statement about the future. Forward-looking
statements including but are not limited to comments regarding the
timing and content of upcoming work and analyses. Forward-looking
statements usually include words such as scheduled, may, intend,
plan, expect, anticipate, believe or other similar words.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by the
Company as of the date of such statements, are inherently subject
to significant business, economic and competitive uncertainties,
and contingencies. Many factors, known and unknown, could cause
actual results to be materially different from those expressed or
implied by such forward-looking statements. We believe the
expectations reflected in these forward-looking statements are
reasonable. However, actual events and results could be
substantially different because of the risks and uncertainties
associated with our business or events that happen after the date
of this news release. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the
date made. As a general policy, we do not update forward-looking
statements except as required by securities laws and regulations.
US investors should be aware that mining terminology used for
Canadian mineral project reporting purposes differs significantly
from US terminology.
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SOURCE Northern Vertex Mining Corp.