VANCOUVER, BC, Sept. 8, 2021 /CNW/ - Northern Vertex
Mining Corp. (TSXV: NEE) (USOTC: NHVCF) (the "Company" or
"Northern Vertex") wishes to announce that the Board of
Directors of the Company (the "Board") has authorized a
consolidation of the issued and outstanding common shares of the
Company (the "Common Shares") on the basis of one (1)
post-consolidation Common Share for every six (6) pre-consolidation
Common Shares (the "Consolidation") and a change of the
Company's name from "Northern Vertex Mining Corp." to "Elevation
Gold Mining Corporation" (the "Name Change"). Prior
to, or concurrently with, the Consolidation, Northern Vertex will
be cancelling approximately 19.5 million Common Shares that
are held in treasury related to the merger with Eclipse Gold Mining
Corporation on February 12, 2021 (the
"Merger Shares"). After completion of the
Consolidation, the Common Shares will begin trading on the OTCQX
platform for United States based
investors.
After cancellation of the Merger Shares, the remaining
approximately 364.9 million Common Shares issued and outstanding
will be reduced to approximately 60.8 million post-Consolidation
Common Shares prior to rounding for fractional shares. No
fractional shares will be issued under the Consolidation. Any
fractional shares equal to or greater than one-half resulting from
the Consolidation will be rounded up to the next whole number of
Common Shares, and any fractional shares less than one-half
resulting from the Consolidation will be rounded down to the
nearest whole number. The exercise or conversion price and
the number of shares issuable under the Company's outstanding stock
options and convertible instruments will be proportionately
adjusted upon completion of the Consolidation, including, but not
limited to, the Common Share purchase warrants of the Company
expiring on January 14, 2023 which
were issued pursuant to a warrant indenture dated February 12, 2021 between the Company and
Computershare Trust Company of Canada and are listed on the TSX Venture
Exchange (the "TSXV") under the symbol "NEE.WT".
The Consolidation and the Name Change are subject to the
approval of the TSXV and the pre-consolidation Common Shares will
continue to be traded on the TSXV under the current trading symbol
"NEE" until the effective date of the Consolidation and the Name
Change. Upon receipt of TSXV approval for the Consolidation and the
Name Change, the Company will provide further details, including
the effective date of the Consolidation and the Name Change and the
commencement date for trading of the Common Shares on a
post-Consolidation basis under the Company's new name and trading
symbol.
The Board believes that the Consolidation will provide the
Company with greater flexibility for the continued development of
its business and the growth of the Company, including financing
arrangements.
About Northern Vertex Mining Corp.
Northern Vertex offers investors a rare combination of cash
flow, production, top-tier management, and exceptional exploration
potential within two projects on the Walker Lane Gold Trend of
western Nevada and Arizona. Management is executing a clear
strategy that expands production and resources at the Moss Mine in
Arizona while aggressively
exploring the Hercules Project in Nevada.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX MINING CORP
"Michael G. Allen"
President
Neither the 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 Statement Regarding Forward-Looking
Information
All statements, trend analysis and other information contained
in this press release about anticipated future events or results
constitute forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "expect" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. All statements, other than statements of historical
fact, included herein, are forward-looking statements, including,
but not limited to statements regarding the Consolidation and the
Name Change. Although Northern Vertex believes that the
expectations reflected in such forward-looking statements and/or
information are reasonable, undue reliance should not be placed on
forward-looking statements since Northern Vertex can give no
assurance that such expectations will prove to be correct. These
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements, including the risks, uncertainties and other factors
identified in Northern Vertex's periodic filings with Canadian
securities regulators. Forward-looking statements are subject to
business and economic risks and uncertainties and other factors
that could cause actual results of operations to differ materially
from those contained in the forward-looking statements. Important
factors that could cause actual results to differ materially from
Northern Vertex's expectations include risks related to the failure
of Northern Vertex to receive the acceptance of the TSXV of the
Consolidation and the Name Change; risks associated with the
business of Northern Vertex; risks related to reliance on technical
information provided by Northern Vertex; risks related to
exploration and potential development of Northern Vertex's
projects; business and economic conditions in the mining industry
generally; fluctuations in commodity prices and currency exchange
rates; uncertainties relating to interpretation of drill results
and the geology, continuity and grade of mineral deposits; the need
for cooperation of government agencies in the exploration and
development of properties and the issuance of required permits; the
need to obtain additional financing to develop properties and
uncertainty as to the availability and terms of future financing;
the possibility of delay in exploration or development programs and
uncertainty of meeting anticipated program milestones; uncertainty
as to timely availability of permits and other governmental
approvals; and other risk factors as detailed from time to time and
additional risks identified in Northern Vertex's filings with
Canadian securities regulators on SEDAR (available at
www.sedar.com). Forward-looking statements are based on estimates
and opinions of management at the date the statements are made.
Northern Vertex does not undertake any obligation to update
forward-looking statements except as required by applicable
securities laws. Investors should not place undue reliance on
forward-looking statements.
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SOURCE Northern Vertex Mining Corp.