/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, Sept. 5, 2014 /CNW/ - Northern Frontier Corp. (TSXV: FFF) (the "Corporation" or "Northern Frontier") is pleased to announce today the closing of the partial exercise of the over-allotment option granted to the Underwriters in connection with the previously announced bought deal equity offering (the "Offering") of units (the "Units") comprised of one common share of the Corporation and one warrant of the Corporation ("Warrant") at a price of $2.15 per Unit (the "Offering Price"). Pursuant to the Offering, a syndicate of investment dealers co-led by Cormark Securities Inc., Acumen Capital Finance Partners Limited and GMP Securities L.P. and including M Partners Inc. (the "Underwriters") have partially exercised their over-allotment option and purchased an additional 617,438 Units at the Offering Price and an additional 152,500 Warrants ("Option Warrants") at $0.04 per Option Warrant for additional gross proceeds of approximately $1.33 million. Each Option Warrant will entitle the holder to acquire one common share of the Corporation ("Warrant Share") at a price of $3.40 per Warrant Share until February 28, 2016.
Securities Law Matters
This news release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
About Northern Frontier Corp.
Northern Frontier's strategic objective is to create a substantial industrial and environmental services business through a buy and build growth strategy. Currently, the Corporation provides civil construction and excavation services to the industrial energy industry, primarily in the in situ Oilsands region south of Fort McMurray, Alberta and on closing of the Acquisition, now provides bulk water and fluids transfer logistic services in western Canada.
The Corporation's common shares and common share purchase warrants are listed on the TSX Venture Exchange under the trading symbol "FFF" and "FFF.WT", respectively.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Northern Frontier Corp.
For further information:
Chris Yellowega - President and Chief Executive Officer
- or -
Monty Balderston - Executive Vice President and Chief Financial Officer
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Northern Frontier Corp.
400, 435 - 4th Avenue SW
Calgary, AB T2P 3A8