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Northern Vertex Mining Corp. (TSXV:NEE) has arranged a non-brokered private placement of up to approximately 2.5 million units at a purchase price of 40 cents per unit, for an aggregate of gross proceeds to the company of up to $1-million.
Northern Vertex Mining Corp. (TSXV:NEE) has arranged a non-brokered private placement of up to approximately 2.5 million units at a purchase price of 40 cents per unit, for an aggregate of gross proceeds to the company of up to $1-million.
Each Unit consists of one common share (“Common Share”) of the Company and one half transferable share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to acquire one Common Share of the Company at an exercise price of $0.65 for a period of 24 months from the closing date of the Private Placement. A cash finders’ fees within TSX Venture Exchange policy guidelines may be paid in connection with the Private Placement.
The Company intends to use the net proceeds of the Private Placement to conduct a multi-phase drill program on several prospective gold-silver targets identified from its ongoing property wide exploration program on its Moss Mine Gold Silver property located in Mohave County, Arizona, U.S.A. and for general working capital purposes. The Company has identified four high priority targets that will be the focus of an ongoing multi-phase drill program on Moss. These include the West Oatman stockwork vein target, the high-grade Old Timer East and West targets and the Western Extension of the Moss.
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