VANCOUVER, July 5, 2016 /PRNewswire/ - Northern Dynasty
Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the
"Company") announces that it has completed a private placement of
4,444,376 Units, each consisting of one share and one warrant of
the Company at a price of $0.45 per
Unit for gross proceeds of approximately $2
million. The warrants are exercisable into one common share
of the Company at the exercise price of $0.65 per share until June
10, 2021. The shares and warrants are subject to applicable
resale restrictions, including a four month hold under Canadian
legislation. The warrants will be listed for trading on the TSX
once the hold period expires.
Proceeds will be used for working capital purposes.
The securities to be issued pursuant to this transaction have
not been registered under the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act"), and may not be offered or sold
in the United States absent
registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development
company based in Vancouver,
Canada. Northern Dynasty's principal asset is the Pebble
Project in southwest Alaska, USA,
an initiative to develop one of the world's most important mineral
resources.
Marchand Snyman
Chief Financial Officer
Forward Looking Information and other
Cautionary Factors
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, such as those that address the
in-progress financings are forward-looking statements. Though the
Company believes the expectations expressed in its forward-looking
statements are based on reasonable assumptions, such statements are
subject to future events and third party discretion such as
regulatory personnel. For more information on the Company, and the
risks and uncertainties connected with its business, Investors
should review the Company's home jurisdiction filings at
www.sedar.com and its filings with the United States Securities and
Exchange Commission.
SOURCE Northern Dynasty Minerals Ltd.