|Northern Vertex Mining Corp. - NEE.v is focused on the reactivation of the Moss Mine Gold-Silver Project located in NW Arizona, USA. |
The Company is earning into a 70% property interest Joint Venture Option Agreement with Patriot Gold.
On April 4, 2016 the company released NEWS
" Northern Vertex Mining Corp. (TSX.V:NEE) (the "Company") is pleased to announce that further to its press release dated March 31, 2016, it has closed the final tranche of its oversubscribed non-brokered private placement (the "Private Placement") and issued a further 500,000 units (each a "Unit") bringing the aggregate total Units issued to 8,474,875 Units at a purchase price of $0.32 per Unit raising gross proceeds to the Company of $2,711,960.
Each Unit consists of one common share ("Common Share") of the Company and one transferable share purchase warrant ("Warrant"). Each whole Warrant from this tranche will entitle the holder to acquire one Common Share at an exercise price of $0.50 until April 4, 2019. Cash finders' fees to arm's length parties of 6%, totaling $9,600 will be paid on the remaining portion of the Private Placement.
The Company intends to use the net proceeds of the Private Placement for the advancement of the Company's Moss Mine Gold-Silver property located in Mohave County, NW Arizona, USA and general corporate purposes. All of the securities issued today pursuant to the Private Placement will have a four month hold period which expires August 5, 2016. All amounts quoted are in Canadian dollars.