Northern Dynasty Announces Closing Of C$10.1 Million Underwritten Offering

About this update from Northern Dynasty Minerals Ltd.

[{"type":"text","content":"Northern Dynasty Announces Closing Of C$10.1 Million Underwritten OfferingVANCOUVER, BC / ACCESSWIRE / May 13, 2020 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) (\"Northern Dynasty\" or the \"Company\") announces that the Company has closed its previously announced underwritten public offering of common shares of the Company (the \"Common Shares\"), including exercise in full of the over-allotment option (the \"Offering\"). A total of 14,375,000 Common Shares were sold at a price of C$0.70 per Common Share (\"Offering Price\") for gross proceeds of approximately C$10.1 million. The Offering was completed pursuant to an underwriting agreement dated April 29, 2020 among the Company and Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, and a syndicate of underwriters including BMO Nesbitt Burns Inc., H.C. Wainwright & Co., LLC. and TD Securities Inc.The Company intends to use the net proceeds of the Offering and the Concurrent Private Placement for (i) operational expenditures, including engineering, environmental, permitting and evaluation expenses associated with the Pebble Project and the advancement of completion of the USACE Environmental Impact Study, (ii) enhanced outreach and engagement with political and regulatory offices in the Alaska state and U.S. federal government, Alaska Native partners and broader regional and state-wide stakeholder groups, and (iii) payment of current liabilities associated with the Company's working capital deficiency.The Offering was completed pursuant to a short form prospectus (the \"Prospectus\") and related U.S. registration statement on Form F-10 (SEC File No. 333-237875) (the \"Registration Statement\"). This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon by the accuracy or adequacy of the Prospectus or the Registration Statement.About Northern Dynasty Minerals Ltd.Northern Dynasty is a mineral exploration and development company based in...

More updates from Northern Dynasty Minerals Ltd.