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Northern Lights Resources Announces Closing of NSR Royalty Transaction and Proposed Shares for Debt Settlement
Vancouver, BC – TheNewswire - April 9, 2026 – Northern Lights Resources Corp. (CSE: NLR) (OTC: NLRCF) (FSE: 0ZH0) (“Northern Lights” or the “Company”) is please
About this update from Northern Lights Resources Corp
[{"type":"text","content":"Vancouver, BC – TheNewswire - April 9, 2026 – Northern Lights Resources Corp. (CSE: NLR) (OTC: NLRCF) (FSE: 0ZH0) (“Northern Lights” or the “Company”) is pleased to announce that it has completed the previously announced sale of the Company’s 1% Net Smelter Return (“NSR”) royalty on the Medicine Springs Project (the “Project”), located in Elko County, Nevada, USA, for total cash consideration of US$2,200,000 (the “Transaction”) to an indirect wholly owned subsidiary of Torex Gold Resources Inc. (“Torex”). The Company would also like to announce a proposed debt settlement pursuant to which the Company intends to issue up to 1,630,000 common shares in the capital of the Company (the “Settlement Shares”) at a deemed price of $0.12 per Settlement Share to settle an aggregate of CAD$195,600 in outstanding indebtedness owing to certain creditors of the Company (the “Debt Settlement”), including officers and consultants. The Settlement Shares will be issued in accordance with the policies of the Canadian Securities Exchange (the “CSE”). All Settlement Shares issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. Completion of the Debt Settlement remains subject to certain conditions, including receipt of all necessary regulatory approvals, including approval of the CSE. Luka Capin, Chief Executive Officer of Northern Lights, stated: “The successful closing of the Medicine Springs royalty transaction marks a significant milestone for Northern Lights. This non-dilutive capital strengthens our balance sheet while allowing us to streamline the portfolio and focus on our highest-impact exploration assets in Canada. In parallel, the completion of the debt settlement further enhances our financial position by reducing liabilities and aligning stakeholders with the long-term success of the Company. We are now well-positioned to advance our Pup and Horetzky projects and deliver meaningful value for shareholders.” Certain creditors participating in the Debt Settlement include insiders of the Company representing CAD$21,600 of the indebtedness. The participation of such insiders will constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holde...