Business
Northern Dynasty Announces Closing of US$37.444 Million Bought Deal Offering
Northern Dynasty Announces Closing of US$37.444 Million Bought Deal Offering Canad...
About this update from Northern Dynasty Minerals Ltd.
[{"type":"text","content":"\n\n\n\nNorthern Dynasty Announces Closing of US$37.444 Million Bought Deal Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 26, 2017\n\n\n\nVANCOUVER, Jan. 26, 2017 /CNW/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) (\"Northern Dynasty\" or the \"Company\") is pleased to report that it has closed its previously announced bought deal offering, including the exercise in full of the Underwriters' over-allotment option (the \"Offering\"). A total of 20.24 million common shares of the Company were sold at a price of US$1.85 per share for gross proceeds of US$37.444 million.  The Offering was completed pursuant to an underwriting agreement dated January 12, 2017 among the Company and Cantor Fitzgerald Canada Corporation, TD Securities Inc. and BMO Capital Markets, as co-lead underwriters and joint bookrunners, and Canaccord Genuity Corp., CIBC World Markets Inc. and Haywood Securities Inc., as co-managers (collectively, the \"Underwriters\").  The Company paid a 5% commission to the Underwriters.\n\nThe proceeds of the Offering are anticipated to be used by the Company for (i) advancement of the Company's multi-dimensional strategy to address the pre-emptive regulatory action of the U.S. Environmental Protection Agency under Section 404 (c) of the Clean Water Act; (ii) preparation of the Pebble Project for the initiation of federal and state permitting under the U.S. National Environmental Policy Act; (iii) environmental monitoring, engineering and environmental studies, field investigations and related technical studies to finalize a proposed development plan for the Pebble Project, (iv) enhanced outreach and engagement with political and regulatory offices in the Alaska state and U.S. federal government and among Alaska Native partners and broader regional and state-wide stakeholder groups, (v) Alaskan corporate, tenure and site maintenance, (vi) general corporate purposes, and (vii) working capital requirements.\n\nThe Offering was completed by way of a prospectus filed in a...