TSX-V Symbol: NL
Frankfurt Symbol: N3E
VANCOUVER, Nov. 15, 2016 /CNW/ - Northern Lion Gold
Corp. (the "Company") announces a non-brokered private
placement of up to 5,000,000 units (the "Units") of the
Company at a price of $0.10 per Unit
for aggregate proceeds of up to $500,000 (the "Offering"). Each Unit shall
be comprised of one common share of the Company (a "Common
Share") and one Common Share purchase warrant (a "Unit
Warrant") entitling the holder to subscribe for one additional
Common Share at a price of $0.20 per
Common Share until the date that is 18 months from the date of
issuance.
For the Offering, the Company may pay a finder's fee comprised
of a cash commission of up to 7% of the gross proceeds of the
Offering and finder warrants (the "Finder Warrants") of up
to 7% of the number of Units sold pursuant to the Offering. Each
Finder Warrant shall be exercisable for one Common Share at a price
of $0.20 per Common Share until the
date that is up to 18 months from closing of the Offering.
The proceeds of the Offering are expected to be used for
corporate overhead purposes and to establish a reserve for
potential acquisition opportunities.
The Offering is subject to the receipt of all necessary
approvals, including the approval of the TSX Venture Exchange. All
securities issued in connection with the Offering will be subject
to a statutory four-month hold period.
NORTHERN LION GOLD CORP.
John Lando, President
This news release includes "forward-looking information", as
such term is defined in applicable securities laws. The
forward-looking information includes statements about the Offering
and the anticipated use of proceeds therefrom. These statements
reflect management's current estimates, beliefs, intentions and
expectations; they are not guarantees of future performance. The
Company cautions that all forward-looking information is inherently
uncertain and that actual performance may be affected by a number
of material factors, many of which are beyond the Company's
control. Such factors include, among others, risks and
uncertainties relating to exploration and development; the ability
of the Company to obtain additional financing; the Company's
limited operating history; the need to comply with environmental
and governmental regulations; potential defects in title to the
Company's properties; fluctuations in currency exchange rates;
fluctuating prices of commodities; operating hazards and risks;
competition; and other risks and uncertainties. Accordingly, actual
future events, conditions and results may differ materially from
the estimates, beliefs, intentions and expectations expressed or
implied in the forward-looking information. All statements are made
as of the date of this news release and, except as required by law,
the Company is under no obligation to update or alter any
forward-looking information.
NEITHER THE 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 NEWS RELEASE
SOURCE Northern Lion Gold Corp.
