Northern Vertex Announces $12.65 Million Non-Brokered Private Financing

- October 18th, 2011

Northern Vertex Capital Inc. (TSXV: NEE) announced a Non-Brokered private placement of up to approximately 11 million units at a purchase price of $1.15 per Unit, for aggregate gross proceeds to the Company of up to $12,650,000.

Northern Vertex Capital Inc. (TSXV: NEE) announced a Non-Brokered private placement of up to approximately 11 million units at a purchase price of $1.15 per Unit, for aggregate gross proceeds to the Company of up to $12,650,000.

As quoted in the press release:

Each Unit will consist of one common share (“Common Share”) of Northern Vertex and one-half of one transferable share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of $1.55 for a period of 24 months from the closing date of the Private Placement. The expiry date of the Warrants may be accelerated, at the sole option of the Company, to 30 business days following the date on which the Company gives notice that its common shares have closed for 21 consecutive trading days at a price of $2.00 or greater.

Click here to read the Northern Vertex Capital Inc. (TSXV:NEE) press release
Click here to see the Northern Vertex Capital Inc. (TSXV:NEE) profile.

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