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Northern Dynasty Minerals Closes $17.1 Million Financing
Jun. 10, 2016 09:08AM PST
Base Metals Investing Northern Dynasty Minerals (TSX:NDM) has closed its previously announced prospectus offerings for gross proceeds of US$17.1 million. The company intends to use the funds to fight the EPA’s rejection of the project under the US Clean Water Act. As quoted in the press release: The offering of 35,777,778 Units was conducted by a syndicate of …
Northern Dynasty Minerals (TSX:NDM) has closed its previously announced prospectus offerings for gross proceeds of US$17.1 million. The company intends to use the funds to fight the EPA’s rejection of the project under the US Clean Water Act.
As quoted in the press release:
The offering of 35,777,778 Units was conducted by a syndicate of agents, led by Global Securities Corporation and including Industrial Alliance Securities Inc. The balance of 2,222,222 Units were sold directly to United States “accredited investors” by the Company.
The Warrants will be listed for trading today on the TSX under the symbol NDM.WT.B-T.
The net proceeds of the Offering will be used to fund the Company’s multi-dimensional strategy to address the United States Environment Protection Agency’s proposed pre-emptive regulatory action under the United States Clean Water Act and to prepare the Pebble Project to initiate federal and state permitting under the United States National Environmental Policy Act, costs to keep the Pebble project in good standing, costs to advance a potential partner(s) transaction and for working capital and general corporate purposes.