VANCOUVER, BC, July 2, 2021 /CNW/ - Northern Vertex Mining
Corp. (TSXV: NEE) (USOTC: NHVCF) ("Northern Vertex" or
the "Company") a Western U.S. focused gold producer with
district-scale exploration potential in the Walker Lane Trend,
announced today that under the terms of the convertible debentures
issued under the convertible debenture indenture dated July 31, 2020 (the "Indenture") between the
Company and Computershare Trust Company of Canada, it has elected to satisfy its
obligation to pay an aggregate of C$166,371 in interest accrued on the C$6.71 million convertible debentures by issuing
to such debenture holders on the interest payment date of
June 30, 2021 an aggregate of 519,910
common shares.
The Company will pay to each such debenture holder approximately
7.75 common shares per $100 principal
amount of Debentures held as at the applicable interest payment
record date. Under the terms of the Debenture, no fractional common
shares will be delivered upon payment of the interest obligation
and the Company is not required to pay the cash equivalent of any
amount less than $5.00. The issuance
of common shares in payment of interest remains subject to TSX
Venture Exchange approval.
Stock Option Grant
The Company reports stock options have been granted to
employees, officers, and consultants of the Company to purchase up
to an aggregate of 7 million shares at a price of C$0.32 per share for a period of five years.
Northern Vertex Engages Proconsul Capital Ltd.
Eclipse has entered into an investment relations agreement (the
"Agreement") with Proconsul Capital Ltd. ("Proconsul"). Pursuant to
the Agreement Proconsul will provide investor outreach and road
show coordination across Canada
and will be paid $2,500 plus GST per
month. The Agreement may be terminated by either party on one
month's notice and remains subject to TSX Venture Exchange
acceptance.
About Northern Vertex Mining Corp.
Northern
Vertex offers investors a rare combination of cash flow,
production, top-tier management and exceptional exploration
potential within two projects on the Walker Lane Gold Trend of
western Nevada and Arizona. Management is executing a clear
strategy that expands production and resources at the Moss Mine in
Arizona while aggressively
exploring the Hercules Project in Nevada.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Michael G.
Allen"
President
TSXV: NEE | US: NHVCF | NEE.WT | Frankfurt: 54N | ISIN: CA6660061012 | WKN:
A1JUA0
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.
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. We believe the
expectations reflected in these forward-looking statements are
reasonable. However, 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. US investors should be aware that mining
terminology used for Canadian mineral project reporting purposes
differs significantly from US
terminology.
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SOURCE Northern Vertex Mining Corp.