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Northern Dynasty Closes $17.1 Million Offerings
Northern Dynasty Closes $17.1 Million Offerings Northern Dynasty Closes $17.1 Mill...
About this update from Northern Dynasty Minerals Ltd.
[{"type":"text","content":"\n\n\n\nNorthern Dynasty Closes $17.1 Million Offerings\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\nNorthern Dynasty Closes $17.1 Million Offerings\nCanada NewsWire\nVANCOUVER, June 10, 2016\n\n\n\nVANCOUVER, June 10, 2016 /CNW/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) (\"Northern Dynasty\" or the \"Company\") reports that it has closed its previously announced prospectus offerings of 38,000,000 units of the Company at a price of C$0.45 per unit (the \"Offering\") which includes 4,666,667 units issued pursuant to the full exercise of an over-allotment option granted to the agents, for gross proceeds to the Company of $17,100,000.\n\nEach Unit consists of one common share (a \"Share\") and one common share purchase warrant (a \"Warrant\").  Each Warrant will be exercisable into one common share (a \"Warrant Share\") at an exercise price of $0.65 per Warrant Share for a period of five (5) years from the closing of the Offering.\n\nThe offering of 35,777,778 Units was conducted by a syndicate of agents, led by Global Securities Corporation and including Industrial Alliance Securities Inc. The balance of 2,222,222 Units were sold directly to United States \"accredited investors\" by the Company.\n\nThe Warrants will be listed for trading today on the TSX under the symbol NDM.WT.B-T.\n\nThe net proceeds of the Offering will be used to fund the Company's multi-dimensional strategy to address the United States Environment Protection Agency's proposed pre-emptive regulatory action under the United States Clean Water Act and to prepare the Pebble Project to initiate federal and state permitting under the United States National Environmental Policy Act, costs to keep the Pebble project in good standing, costs to advance a potential partner(s) transaction and for working capital and general corporate purposes.\n\nIn Canada, the Offering was qualified by the Company's short form base shelf prospectus dated March 7, 2016 and the Company's prospectus supplement dated May 26, 2016, as filed by the Company with the Canadia...