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Northern Dynasty Announces Closing of US$5.0 Million Bought Deal
Northern Dynasty Announces Closing of US$5.0 Million Bought Deal Canada NewsWire ...
About this update from Northern Dynasty Minerals Ltd.
[{"type":"text","content":"\n\n\n\nNorthern Dynasty Announces Closing of US$5.0 Million Bought Deal\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, June 24, 2019\n\n\n\nVANCOUVER, June 24, 2019 /CNW/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) (\"Northern Dynasty\" or the \"Company\") announces that it has closed its previously announced bought deal offering. A total of 12,200,000 common shares of the Company were sold at a price of US$0.41 per share (the \"Offering Price\") for gross proceeds of approximately US$5.0 million. The Offering was completed pursuant to an underwriting agreement dated June 19, 2019 among the Company and Cantor Fitzgerald Canada Corporation, as lead underwriter and sole book runner, and a syndicate of underwriters including BMO Capital Markets, H.C. Wainwright & Co., LLC. and TD Securities Inc. (collectively, the \"Underwriters\"). The Underwriters were paid a 6% cash commission and received 244,000 non-transferable common share purchase warrants (the \"Underwriter Warrants\").  Each Underwriter Warrant entitles the holder to acquire one common share of the Company at the Offering Price for a period of 12 months.\nThe proceeds from the Offering are anticipated to be used for: (i) operational expenditures, including engineering, environmental, permitting and evaluation expenses associated with the Pebble Project and advancement of the U.S. Army Corps of Engineers Environmental Impact Statement (\"EIS\"); (ii) ongoing outreach and engagement with political and regulatory offices in the Alaska state and U.S. federal governments, Alaska Native partners and broader regional and state-wide stakeholder groups; and (iii) general corporate purposes.\nThe Offering was made by way of a prospectus supplement (the \"Prospectus Supplement\") to the Company's existing Canadian base shelf prospectus (the \"Base Shelf Prospectus\") and related U.S. registration statement on Form F-10 (SEC File No. 333-229262) (the \"Registration Statement\").  The U.S. form of Base Shelf Prospectus is in...