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Northern Dynasty Announces At-The-Market Offering of up to US$14.5 Million
VANCOUVER, BC / ACCESSWIRE / June 21, 2021 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE A...
About this update from Northern Dynasty Minerals Ltd.
[{"type":"text","content":"Northern Dynasty Announces At-The-Market Offering of up to US$14.5 MillionVANCOUVER, BC / ACCESSWIRE / June 21, 2021 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) (\"Northern Dynasty\" or the \"Company\") announces that it has entered into an At-the-Market Offering Agreement dated June 21, 2021 (the \"ATM Agreement\") with H.C. Wainwright & Co. (the \"Agent\"). Under the ATM Agreement, the Company will be entitled, at its discretion and from time-to-time during the term of the ATM Agreement, to sell, through the Agent, as sales agent, common shares of the Company (the \"Common Shares\") having an aggregate gross sales price of up to US$14.5 million (the \"Offering\" or \"ATM Facility\"). Sales of the Common Shares will be made in \"at the market distributions\", as defined in National Instrument 44-102, directly on the NYSE American stock exchange (\"NYSE American\") or on any other existing trading market in the United States. No offers or sales of Common Shares will be made in Canada on the Toronto Stock Exchange or other trading markets in Canada.The Company will determine, at its sole discretion, the date, price and number of Common Shares to be sold under the ATM Facility. The Common Shares will be distributed at market prices or prices related to prevailing market prices from time to time. The Company is not required to sell any Common Shares at any time during the term of the ATM Facility, and there are no fees for having established the ATM Facility. The ATM Agreement does not restrict the Company from conducting other financings.The Company intends to use the net proceeds of the Offering, if any and at the discretion of the Company, for (i) the appeal of the Record of Decision by the United States Army Corps of Engineers (the \"USACE\"), (ii) continued engineering, environmental, permitting and evaluation work on the Pebble Project, (iii) maintenance of Company's corporate presence in Alaska, (iv) maintenance of the Pebble Project mineral claims, (v) pursuit of the partnering process for the Pebble Project, (vi) preparation of engineering reports on the Pebble Project, and (vii) general corporate purposes. The Company will pay to the Agent a placement fee for Common Shares sold under the ATM Agreement and will reimburse certain expenses of the Agent.The TSX has conditionally approved the ATM Fac...