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Northern Dynasty Announces US$5.0 Million Bought Deal and Concurrent Up to US$1.5 Million Private Placement
Northern Dynasty Announces US$5.0 Million Bought Deal and Concurrent Up to US$1.5 Million ...
About this update from Northern Dynasty Minerals Ltd.
[{"type":"text","content":"\n\n\n\nNorthern Dynasty Announces US$5.0 Million Bought Deal and Concurrent Up to US$1.5 Million Private Placement\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 19, 2019\n\n\n\nVANCOUVER, June 19, 2019 /CNW/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) (\"Northern Dynasty\" or the \"Company\") announces that the Company has entered into an agreement dated June 19, 2019 with Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner on behalf of itself and a syndicate of underwriters (collectively, the \"Underwriters\"), to purchase, on a bought deal basis, 12,200,000 common shares of the Company (the \"Offered Shares\") at the price of US$0.41 per Offered Share (the \"Issue Price\") for aggregate gross proceeds of approximately US$5.0 million (the \"Offering\").\nIn addition, Northern Dynasty has agreed to grant to the Underwriters an over-allotment option (the \"Over-Allotment Option\") exercisable, in whole or in part, in the sole discretion of the Underwriters to purchase up to an additional 1,830,000 Offered Shares at the Issue Price for a period of up to 30 days after the closing of the Offering for potential additional gross proceeds to the Company of up to approximately US$0.75 million.  \nThe Company has agreed to pay the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering, including proceeds received from the exercise of the Over-Allotment Option, at the closing of the Offering. The Company has also agreed to issue to the Underwriters non-transferable common share purchase warrants in an amount equal to 2.0% of the number of Offered Shares sold in the Offering (the \"Underwriter Warrants\"). Each Underwriter Warrant shall entitle the Underwriters to purchase one common share of the Company at the Issue Price for 12 months from the Closing Date (as defined below).\nThe Offering is expected to close on or about June 24, 2019 and is subject to certain conditions including, but not limited to, the receip...