VANCOUVER, July 5, 2016 /PRNewswire/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the "Company") announces that it has completed a private placement of 4,444,376 Units, each consisting of one share and one warrant of the Company at a price of $0.45 per Unit for gross proceeds of approximately $2 million. The warrants are exercisable into one common share of the Company at the exercise price of $0.65 per share until June 10, 2021. The shares and warrants are subject to applicable resale restrictions, including a four month hold under Canadian legislation. The warrants will be listed for trading on the TSX once the hold period expires.
Proceeds will be used for working capital purposes.
The securities to be issued pursuant to this transaction have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada. Northern Dynasty's principal asset is the Pebble Project in southwest Alaska, USA, an initiative to develop one of the world's most important mineral resources.
Chief Financial Officer
Forward Looking Information and other Cautionary Factors
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, such as those that address the in-progress financings are forward-looking statements. Though the Company believes the expectations expressed in its forward-looking statements are based on reasonable assumptions, such statements are subject to future events and third party discretion such as regulatory personnel. For more information on the Company, and the risks and uncertainties connected with its business, Investors should review the Company's home jurisdiction filings at www.sedar.com and its filings with the United States Securities and Exchange Commission.
SOURCE Northern Dynasty Minerals Ltd.