/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, March 23, 2017 /CNW/ - Northern Vertex Mining Corp. (TSX.V: NEE) (the "Company" or "Northern Vertex") announces the completion of the warrant exercise incentive program (the "Program") announced February 17, 2017. A total of 10,713,608 outstanding unlisted warrants were exercised under the Program raising gross proceeds of $5,000,054.
Kenneth Berry, President and CEO, stated "We are pleased that existing warrant holders participated in the early exercise incentive program. It is a further endorsement for the ongoing development plans and construction underway at the Company's Moss Mine gold-silver project in Arizona."
Pursuant to the Program, the Company has issued an aggregate of 5,356,804 common share purchase warrants (the "Incentive Warrants") to the warrant holders who exercised their Warrants under the Program. Each Incentive Warrant entitles the holder to purchase one additional common share of Northern Vertex at a price of $1.00 per common share until March 24, 2021. The Incentive Warrants are subject to a four month hold period which expires on July 24, 2017.
The balance of the Warrants not exercised under the Program remain outstanding and continue to be exercisable for common shares of the Company on their current terms.
The Incentive Warrants to be issued pursuant to the exercise of the Warrants have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and any applicable state securities laws or an exemption therefrom is available.
About Northern Vertex
Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in NW Arizona, USA. The Company's management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
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.
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 may, intend, plan, expect, anticipate, believe or other similar words. 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. More particularly, this release contains statements concerning the anticipated warrant incentive program. Accordingly, there is a risk that the warrants outlined in the release may not be exercised in their entirety, or part or at all. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.
SOURCE Northern Vertex Mining Corp.
For further information: please visit www.northernvertex.com or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798.