Northern Dynasty, Liberty Star settle $3.7-million loan
Ticker Symbol: C:NDM

 

Northern Dynasty, Liberty Star settle $3.7-million loan

 

Northern Dynasty Minerals Ltd (C:NDM)
Shares Issued 94,999,765
Last Close 11/14/2012 $3.60
Thursday November 15 2012 - News Release

Mr. Ronald Thiessen reports

NORTHERN DYNASTY RECEIVES SETTLEMENT OF LOAN & TERMINATES OPTION

Northern Dynasty Minerals Ltd. and Liberty Star Uranium & Metals Corp. have reached agreement to settle the loan owing by Liberty Star to Northern Dynasty in the principal amount of $3,730,174 plus interest, in consideration for the transfer by Liberty Star to a United States subsidiary of Northern Dynasty of 199 Alaskan mineral claims, totalling 30,640 acres, that are located north of the Pebble project.

As part of the loan-settlement agreement, all other agreements and negotiations between the parties have been terminated, including negotiations relating to an option for Northern Dynasty to acquire 60 per cent of Liberty Star's Big Chunk mineral claims, located in Alaska.