/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, July 11, 2014 /CNW/ - Northern Vertex Mining Corp. (TSX.V:NEE) (the "Company") is pleased to announce that they have closed the second and final
tranche of the previously announced non-brokered private placement (the
"Private Placement") (see news release dated June 5, 2014 and July 3,
2014) which was oversubscribed at $3.76 million.
The Company has issued a final 4,000,000 units (the "Units") at a price
of $0.25 per Unit for total gross remaining proceeds of $1,000,000 for
an aggregate total gross proceeds of $3,760,524.50. Cash finders fees
to arm's length parties of 7%, totaling $70,000 will be paid on this
tranche of the Private Placement. On July 3, 2014, the Company closed
the initial tranche of the Private Placement, issuing 11,042,098 Units
for gross proceeds of $2,760,524.50. 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 at an exercise price of $0.50 for a
period of 24 months from the closing date of the Private Placement.
All of the securities issued today pursuant to the Offering will have a
hold period which expires November 12, 2014. All amounts quoted are in
The Company intends to use the net proceeds of the Private Placement for
the advancement of the Company's Moss Mine Gold-Silver earn-in property
located in Mohave County, NW Arizona, USA, primarily the completion of
a feasibility study and for general corporate purposes.
The securities being offered have not been, nor will they be registered
under the United States Securities Act of 1933, as amended, or state
securities laws and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons absent U.S.
federal and state registration or an applicable exemption from the U.S.
registration requirements. This release does not constitute an offer
for sale of securities in the United States.
About Northern Vertex: Northern Vertex Mining Corp. is a Canadian based exploration and mining
company focused on the reactivation of the Moss Mine Gold-Silver
Project located in Mohave County, NW Arizona, USA, where the Company
has the right to earn-in to a 70% property interest through a Joint
Venture with Patriot Gold Corp. The Moss Mine Gold-Silver Project is an
epithermal, brecciated, low sulphidation quartz-calcite vein and
stockwork system which extends over a strike length of 1,400 meters and
has been drill tested to depths of 220 meters vertically. It is a
potential heap leach, open pit project being advanced under a
three-phase business plan, specifically designed to ensure that
technical, economic, permitting and funding requirements are met prior
to each phase proceeding. The Company's management comprises an
experienced team with a strong background in all aspects of
acquisition, exploration, development, operations and financing of
mining projects worldwide. The Company is focused on working
effectively and respectfully with our stakeholders in the vicinity of
the historical Moss Mine and enhancing the capacity of the local
communities in the area.
To view photos of the Moss Mine Gold-Silver Project, please click on the
following link: http://www.northernvertex.com/s/PhotoGallery.asp
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"J.R.H. (Dick) Whittington"
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: The information in this news release has been prepared as at July 10,
2014. Certain statements in this news release, referred to herein as
"forward-looking statements", constitute "forward-looking statements"
under the provisions of Canadian provincial securities laws. These
statements can be identified by the use of words such as "expected",
"may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by the
Company as of the date of such statements, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Many factors, known and unknown, could cause actual
results to be materially different from those expressed or implied by
such forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date made. Except as otherwise required by law, the Company
expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any such statements to reflect any change
in the Company's expectations or any change in events, conditions or
circumstances on which any such statement is based.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on
which we have no right to explore or mine. We advise U.S. investors
that the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. investors are cautioned that
mineral deposits on adjacent properties are not indicative of mineral
deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, the completion of the Private Placement, the proposed use of
the proceeds of the Private Placement, etc. Forward-looking statements
address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ materially from
those currently anticipated in such Statements.
SOURCE Northern Vertex Mining Corp.