/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES./
VANCOUVER, BC, Aug. 5, 2020 /CNW/ - Northern Vertex
Mining Corp. (TSX.V: NEE) (OTC Nasdaq Intl.:
NHVCF) (the "Company" or "Northern Vertex") is pleased
to announce that further to its press release dated July 9, 2020, it has completed the redemption of
its subordinated unsecured convertible debentures that mature
on May 31, 2021 (the "Outstanding
Debentures") and issued new subordinated unsecured convertible
debentures that mature on June 30,
2025 (the "New Debentures"). A total of
$6.3 million of New Debentures were
closed in the initial tranche, and the Company has commitments for
the remaining $0.4 million to be
closed in the final tranche, for a gross total of $6.7 million.
The Company issued a notice of redemption in respect of its
Outstanding Debentures effective July 31,
2020, providing the Holders with the opportunity to either
subscribe for New Debentures, or receive cash equal to the
principal amount of the Outstanding Debentures plus accrued and
unpaid interest thereon. Holders of the aggregate principal of
$6.3 million of the Outstanding
Debentures elected to subscribe for the New Debentures in the first
tranche of the Company's private placement of New Debentures (the
"Private Placement"). The New Debentures have substantially
the same terms as the Outstanding Debentures, as described in the
Company's press release dated July 9,
2020. The New Debentures and the common shares of the
Company issuable under the New Debentures, if issued before
December 1, 2020, are subject to a
hold period that expires on December 1,
2020, in accordance with applicable Canadian securities laws
and policies of the TSX Venture Exchange (the "Exchange").
The Private Placement is subject to the final approval of the
Exchange, and may close in one or more tranches. No finder's fees
were paid in respect of the Private Placement.
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, or a solicitation of an offer to buy, securities
in the United States.
About Northern Vertex Mining Corp.
Northern Vertex Mining Corp. is focused on low cost gold and
silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across
all areas of operations, mine development, exploration,
acquisitions and financing of mining projects. With operations at
the flagship Moss Mine achieving commercial production the Company
intends to consolidate additional producing or near-term production
gold assets within the Western US. Through mergers and acquisitions
Northern Vertex's corporate goal is to become a mid-tier gold
producer.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Kenneth Berry"
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.
Cautionary Note Regarding Forward-Looking
Statements:
This news release contains statements about our future
business and planned activities. These are "forward-looking"
because we have used what we know and expect today to make a
statement about the future. Forward-looking statements including
but are not limited to comments regarding the timing and content of
upcoming work and analyses. Forward-looking statements usually
include words such as scheduled, may, intend, plan, expect,
anticipate, believe or other similar words, and include statements
with respect to final regulatory approval to the Private Placement
and future tranches of the Private Placement. 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, including factors relating to receipt
of regulatory approvals. Factors that could cause actual
results to differ materially from those in forward-looking
statements include that the Company does not receive final
regulatory acceptance to the Private Placement. We believe
the expectations reflected in these forward-looking statements are
reasonable. Actual events and results could be substantially
different because of the risks and uncertainties associated with
our business or events that happen after the date of this news
release. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date made.
As a general policy, we do not update forward-looking statements
except as required by securities laws and
regulations.
SOURCE Northern Vertex Mining Corp.
