Northern Frontier Corp. Announces Closing of Bought Deal Public Offering and Concurrent Non-Brokered Private Placement for Aggregate Gross Proceeds of $12.5 million

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[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, Dec. 17, 2013 /CNW/ - Northern Frontier Corp. (TSX-V: FFF) (the\n \"Corporation\") is pleased to announce the closing of its previously announced bought\n deal public offering (the \"Public Offering\") of units of the Corporation (the \"Units\") through a syndicate of underwriters led by Acumen Capital Finance\n Partners Limited and including GMP Securities L.P. (the \"Underwriters\").  Pursuant to the Public Offering, the Corporation issued 3,535,100\n Units, including 461,100 Units issued pursuant to the full exercise of\n the over-allotment option granted to the Underwriters, at a price of\n $3.50 per Unit for gross proceeds of $12,372,850.  Immediately\n following closing of the Public Offering, each Unit separated into one\n common share of the Corporation (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole\n warrant, a \"Warrant\").  Each Warrant entitles the holder to acquire one Common Share (a \"Warrant Share\") at a price of $4.00 per Warrant Share on or before March 27, 2015.\n\n\nThe Corporation is also pleased to announce the closing of a concurrent\n non-brokered offering of 42,857 Units (the \"Private Placement Units\"), issued on a private placement basis to two directors of the\n Corporation, for aggregate gross proceeds of $150,000.  The Private\n Placement Units were issued on the same terms as the Units issued in\n connection with the Public Offering (the \"Private Placement\") and the underlying Common Shares and Warrants will be subject to a\n hold period expiring on April 18, 2014.\n\n\nThe Corporation intends to use the net proceeds from the Public Offering\n and the Private Placement to purchase additional equipment and for\n general corporate purposes, as set out in the short form prospectus of\n the Corporation, dated December 10, 2013 (the \"Prospectus\"), which is filed on the SEDAR website at www.sedar.com under the Corporation's profile.\n\n\nForward Looking Information\n\n\nThis news release includes certain statements that constitute\n forward-looking statements under applicable securities legislation. All\n statements other than statements of historical fact are forward-looking\n statements. In some cases, forward-looking sta...

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