The Albert and Colette Benson Family Trust announces the acquisition of 714,286 common shares and 357,143 warrants of Northern Frontier Corp.
CALGARY, Oct. 4, 2013 /CNW/ - In accordance with regulatory requirements, the Albert and Colette Benson Family Trust ("ACBFT") announced that on September 27, 2013 (the "Closing Date") it acquired ownership of 714,286 common shares and 357,143 warrants of Northern Frontier Corp. ("NFC") representing 13.5% of the common shares of NFC outstanding after giving effect to the impact of exercising the warrants. Each warrant entitles the holder thereof to purchase one common share of NFC at a price of $4.00 per common share for a period of 18 months following the closing date. In aggregate, the ACBFT holds 714,286 common shares and 357,143 warrants of NFC. The common shares and warrants of NFC were acquired as partial consideration of a share purchase agreement with NFC dated April 22, 2013 (amended August 12, 2013 and September 27, 2013) at a deemed value of $2,500,000.00.
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