Toronto, Ontario--(Newsfile Corp. - June 12, 2014) - Northern
Financial Corporation (TSXV: NFC) ("
Northern Financial" or the "
Company") today announces that the Company is
offering a non-brokered private placement of a minimum of $300,000
and a maximum of $500,000 (the "Financing"). The Company plans to
issue between 30.0mm and 50.0mm units ("Units") at a price of $0.01
per Unit. Each Unit will consist of one common share and one common
share purchase warrant (a "Warrant"). Each Warrant will be
exercisable at $0.05 per share expiring five years from the date of
closing. Proceeds of the Financing will be used to reduce the
Company’s interest-bearing short-term loans outstanding and for
working capital purposes.
In addition to any other exemption available to the Company,
participation in the Financing is also open to existing
shareholders on record as of June 11, 2014 who are not accredited
investors under the "existing shareholder" exemption of National
Instrument 45-106 in participating jurisdictions. In the event that
the aggregate subscriptions exceed the maximum number of Units
available, the Units will be allocated on a first received
The Financing is subject to approval from the TSX Venture
Exchange. All Units issued will be subject to a four-month hold
period ending four months from the date of closing.
About Northern Financial Corporation
Northern Financial Corporation is a financial advisory firm and
merchant bank, with a specialization in mergers and acquisitions,
merchant banking investments, risk arbitrage merger and acquisition
investments, financial restructurings, proxy solicitation and
information agent services.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chairman and Chief Executive Officer