TORONTO, Jan. 8, 2013 /CNW/ - Northern Financial Corporation (TSXV: NFC) ("Northern" or the "Company") today announced that it is proposing to complete an offering of up to $500,000 of common shares at a minimum issue price of $0.01 per share. The proceeds of the offering would be used to satisfy the regulatory risk adjusted capital requirements of Northern's wholly-owned subsidiary Northern Securities Inc., a registered investment dealer.
It is anticipated that the financing would close on or about January 11, 2013. The completion of the offering is subject to receipt of regulatory approval.
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. This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in the Management's Discussion and Analysis and Filing Statement of the Company which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.
SOURCE: Northern Financial Corporation
For further information:
Director, Business Development
Northern Securities Inc.
Fax: (416) 644-0270