VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/02/15 -- Northern Vertex Mining Corp. (TSX VENTURE: NEE) (the "Company") announces that it has, subject to regulatory approval, amended the expiry date of an aggregate total of 1,321,500 unexercised share purchase warrants from October 4, 2015, by a further six months to April 4, 2016.
Pursuant to the non-brokered unit private placement that closed on April 4, 2011, a total of 1,571,500 warrants were issued expiring on April 4, 2013 of which 1,321,500 currently remain outstanding. On March 28, 2013, the Company announced that it had extended the expiry date of the outstanding 1,321,500 warrants for an additional six months, to October 4, 2013. On September 25, 2013, the Company extended the expiry date by an additional 12 months to October 4, 2014. On September 25, 2014, the Company extended the expiry date by an additional 12 months, to October 4, 2015. The terms of the warrants will remain unchanged, including exercise price per warrant remaining at $1.15 and that the expiry date of the warrants can be accelerated to 21 days following the date on which the Company gives notice to the holders of the warrants that its common shares have closed for 20 consecutive trading days at a price of $1.50 or greater.
About Northern Vertex: Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the reactivation of the Moss Mine Gold-Silver Project located in NW Arizona, USA where the Company has recently earned a 70% property interest and will form an LLC joint venture with Patriot Gold Corp. The Moss Mine Gold-Silver Project is an epithermal, brecciated, low sulphidation quartz-calcite vein and stockwork system which extends over a strike length of 1,400 meters and has been drill tested to depths of 370 meters below surface. It is a potential heap leach, open-pit project that has been advanced to the Feasibility Study stage to ensure that technical, economic, permitting and funding requirements are met prior to proceeding with the development of the mine. The Company's management comprises an experienced management team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
J.R.H. (Dick) Whittington, President & CEO
For further information, please visit www.northernvertex.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: The information in this news release has been prepared as at October 1, 2015. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based. In particular, there are many inherent risks that the loans contemplated by the Macquarie Term Sheet, that is the subject of this news release, may never be consummated. These risks include the potential inability or unwillingness of Northern Vertex and/or Patriot to meet the numerous conditions contained in the indicative term sheet such as securing relevant construction and other project permits, the borrowers' securing sufficient additional equity to complete the Project, settlement of the ongoing arbitration, execution of an LLC joint venture agreement between Northern Vertex and Patriot, provision of corporate guarantees by Northern Vertex and Patriot, Macquarie credit committee approval and other factors beyond the control of Northern Vertex. There can be no assurance given that the debt financing can be secured on the indicated terms or on any other terms. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
2015 number 12
Contacts:
Northern Vertex Mining Corp.
Investor Relations
604-601-3656 or at 1-855-633-8798
www.northernvertex.com
