CALGARY, Feb. 29 /CNW/ - Northern Spirit Resources Inc. (NS) (the
"Corporation"), a capital pool company, is pleased to announce the successful
closing of its initial public offering (the "Offering") of 3,000,000 common
shares ("Common Shares") at a price of $0.20 per share, for gross proceeds to
the Corporation of $600,000. Emerging Equities Inc. acted as agent in
connection with the Offering and received a cash commission of 10% of the
gross proceeds of the Offering and was granted an option to purchase 300,000
Common Shares at a price of $0.20 per share until March 1, 2010.
The Corporation intends to use the net proceeds of the Offering to
identify and evaluate assets or businesses for acquisition with a view to
completing a Qualifying Transaction (as defined in Policy 2.4 of the TSX
Venture Exchange) (the "Exchange"). The Corporation has received conditional
approval from the Exchange for the listing of its Common Shares, subject to
the Corporation filing final documentation with the Exchange.
The Corporation's shares will be listed under the trading symbol of "NS".
The Corporation's shares are not for distribution in the United States.
The TSX Venture Exchange does not accept responsibility for the adequacy
and accuracy of this release.
For further information:
For further information: James Newland Tanner, President and Chief
Executive Officer, Telephone: (403) 540-2581, Fax: (403) 269-2655, Email: