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Northern Lights Resources Announces Completion of Non-Brokered Private Placement of $100,000 in Connection with Settlement of Mirabel Debt
Vancouver, British Columbia, February 3, 2025 – TheNewswire - Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE:NLR, OTC: NLRCF) announc
About this update from Northern Lights Resources Corp
[{"type":"text","content":"Vancouver, British Columbia, February 3, 2025 – TheNewswire - Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE:NLR, OTC: NLRCF) announces that it has completed a non-brokered private placement (the \"Financing\") of subscription receipts (the \"Subscription Receipts\") for aggregate gross proceeds of C$100,000 with arms-length private investors (the “Investors”). The Financing is being undertaken in connection with the settlement of outstanding debt owed by the Company to Mirabel Capital, Ltd. (“Mirabel”). Financing The Investors have subscribed for four million Subscription Receipts offered by Northern Lights at an issue price of C$0.025 per Subscription Receipt (the \"Issue Price\") for aggregate gross proceeds of C$100,000. Each Subscription Receipt entitles the Investor to receive, upon completion of a debt settlement agreement between Northern Lights and Mirabel, and without payment of any additional consideration, one (1) unit in the capital of Northern Lights (each, an \"Underlying Unit\"), with each Underlying Unit consisting of one (1) common share in the capital of Northern Lights (an \"Underlying Share\") and one whole share purchase warrant (an \"Underlying Warrant\"). Each Underlying Warrant will entitle the holder to acquire one (1) additional common share, at an exercise price of C$0.05 per share, for a period of 24 months from the issuance of the Underlying Units. No finders fees are payable in connection with the Financing. Should a settlement agreement not be finalized with Mirabel by February 14, 2025 (or such later date as may be negotiated), the subscription proceeds will be returned to the Investor without interest or deduction. For Further Information Albert Timcke, Executive Chairman and President Email: [email protected] Tel: +1 604 608 6163 Jason Bahnsen, Chief Executive Officer Email: [email protected] Tel: +1 604 608 6163 About Northern Lights Resources Corp. Northern Lights Resources Corp is a growth-oriented exploration and development company advancing two key projects: the Horetzky Copper Project, located in the Babine Porphyry belt of central British Columbia and the 100% owned, Secret Pass Gold Project located in Arizona. Northern Lights also holds a 1% NSR royalty on the Medicine Springs Silver Project in Nevada owned by Rey...