4,444,376 units of one share and one warrant sold at C$0.45 per unit
By Devika Patel
Knoxville, Tenn., July 6 – Northern Dynasty Minerals Ltd. said on Tuesday that it settled a C$2 million private placement of units.
The company sold 4,444,376 units of one common share and one warrant at C$0.45 per unit. Each warrant will be exercisable at C$0.65 until June 10, 2021. The strike price is a 66.67% premium to the July 4 closing share price of C$0.39.
Proceeds will be used for working capital purposes.
Based in Vancouver, B.C., Northern Dynasty explores the Pebble property in Alaska for copper, gold and molybdenum.
| Issuer: | Northern Dynasty Minerals Ltd.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$2 million
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| Units: | 4,444,376
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| Price: | C$0.45
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| Warrants: | One warrant per unit
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| Warrant expiration: | June 10, 2021
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| Warrant strike price: | C$0.65
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| Settlement date: | July 5
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| Stock symbol: | Toronto: NDM
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| Stock price: | C$0.39 at close July 4
|
| Market capitalization: | C$114.47 million
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