NORTHERN FINANCIAL CORPORATION
TORONTO, Dec. 24 /CNW/ - Northern Financial Corporation (TSX:NFC) (the
"Company") is pleased to announce that Northern Securities Inc.
("Northern Securities"), a wholly owned subsidiary of the Company,
yesterday successfully closed three separate financings, raising gross
proceeds of $11,000,000 on behalf of mining clients. The financings
included raising $7,500,000 on behalf of NioGold Mining Corporation
("NioGold") in Units and Flow Through shares, raising $2,500,000 on
behalf of Canadian Zinc Corporation ("Canadian Zinc") in Flow Through
shares, and raising $1,500,000 on behalf of Rainbow Resources Inc. in
an Initial Public Offering of Units and Flow Through Units. Northern
acted as the lead agent in each of the three financings. The size of
both the NioGold and Canadian Zinc financings was increased from their
original amounts, NioGold by $1,000,000 and Canadian Zinc by $500,000.
Vic Alboini, Chief Executive Officer of Northern Securities, commented
"Closing three financings in one day is a first for Northern
Securities. Our team again proved that we can exceed the expectations
of our clients, and we look forward to continuing to serve our clients
at the highest level in 2011."
About Northern Financial Corporation
Northern Financial Corporation wholly owns Northern Securities Inc., a
full service investment dealer that provides financial advisory
services to retail and institutional clients and investment banking
services to small capitalization companies.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news 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
SOURCE Northern Securities Inc.
For further information:
Northern Securities Inc.
Fax: (416) 644-0271