Northern Dynasty Closes US$15 million Convertible Notes Offering and CAD$3.4 million Private Placement
December 21, 2023 Vancouver – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern Dynasty" or the "Company") announces, further to its December 11, 2023 release, it has closed the convertible notes and non-brokered private placement offerings.
Per the terms of the Agreement Kopernik Global Investors, LLC on behalf of its clients, has purchased convertible notes (the "Notes") having an aggregate principal amount of US$15,000,000 (the "Convertible Notes Offering").
The Company also issued and sold by non-brokered private placement of 8,555,000 units of the Company (the "Units"), at a price of CAD$0.40 per Unit, for aggregate gross proceeds of CAD$3,422,000 (the "Unit Offering").
The Notes and the Units were issued pursuant to exemptions from prospectus requirements and other similar requirements under applicable securities laws. The Notes and the Units will be subject to resale restrictions under applicable securities laws in Canada and the United States.
Ron Thiessen, President and CEO, noted "These funds will be used by the Company to continue to advance the Pebble Project in a responsible manner for the benefit of all Alaskans, especially those in southwest Alaska closest to the Pebble Project. This way all Alaskans can benefit from both the valuable fisheries and world-class mineral resource assets the State has to offer; not one or the other."
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada. Northern Dynasty's principal asset, owned through its wholly owned Alaska-based U.S. subsidiary, Pebble Limited Partnership, is a 100% interest in a contiguous block of 1,840 mineral claims in Southwest Alaska, including the Pebble deposit, located 200 miles from Anchorage and 125 miles from Bristol Bay. The Pebble Partnership is the proponent of the Pebble Project.
For further details on Northern Dynasty and the Pebble Project, please visit the Company's website at www.northerndynastyminerals.com or contact Investor services at (604) 684-6365 or within North America at 1- 800-667-2114. Review public filings, which include forward looking information cautionary language and risk factor disclosure regarding the Company and the Pebble Project in Canada at www.sedarplus.ca and in the United States at www.sec.gov.
Ronald W. Thiessen
President & CEO
U.S. Media Contact:
Dan Gagnier, Gagnier Communications (646) 569-5897
Forward Looking Information and other Cautionary Factors
This release includes certain statements that may be deemed "forward-looking statements" under the United States Private Securities Litigation Reform Act of 1995 and under applicable provisions of Canadian provincial securities laws. All statements in this release, other than statements of historical facts, which address permitting, development and production for the Pebble Project are forward-looking statements. These include statements regarding: (i) the use of proceeds of each of the Convertible Notes Offering and the Unit Offering; (ii) the ability of the Pebble Project to ultimately secure all required federal and state permits; (iii) if permitting is ultimately secured, the ability to demonstrate that the Pebble Project is commercially viable; (iv) the ability of the Company and/or the State of Alaska to successfully challenge the EPA's Final Determination process under the Clean Water Act; and (v) the ability of the Company to secure the significant additional financing, including the proceeds from the Convertible Notes Offering and the Unit Offering, to fund these objectives as well as ultimately funding mine construction, for which financing may not be available to NDM on acceptable terms or on any terms at all.
Although NDM believes the expectations expressed in these forward-looking statements are based on reasonable assumptions, such statements should not be in any way be construed as guarantees that the Pebble Project will secure all required government and environmental permits, regarding the ability of NDM to develop the Pebble Projects in light of the EPA's Final Determination or regarding NDM's ability to secure significant additional financing.
Assumptions used by NDM to develop forward-looking statements include the following assumptions: (i) the Pebble Project will ultimately obtain all required environmental and other permits and all land use and other licenses; (ii) any action taken by the EPA in connection with the Final Determination will ultimately not be successful in restricting or prohibiting development of the Pebble Project; and (iii) the Company or its subsidiaries will be able to secure significant additional financing.
NDM is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. Investors should also consider the risk factors identified in the Company's Annual Information Form for the year ended December 31, 2022, as filed on SEDAR plus and included in the Company's annual report on Form 40-F filed by the Company with the SEC on EDGAR, and the Company's Management Discussion and Analysis for the year ended December 31, 2022, and nine months ended September 30, 2023, each as filed on SEDAR plus and EDGAR, for a discussion of the risks that may impact our forward-looking statements.
The National Environment Policy Act Environmental Impact Statement process requires a comprehensive "alternatives assessment" be undertaken to consider a broad range of development alternatives, the final project design and operating parameters for the Pebble Project and associated infrastructure may vary significantly from that currently contemplated. As a result, the Company will continue to consider various development options and no final project design has been selected at this time.
For more information on the Company, Investors should review the Company's filings with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedarplus.ca.
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北朝完成1,500萬美元可轉換票據發行和340萬加元的私募配售
2023年12月21日溫哥華——北朝礦業有限公司(多倫多證券交易所股票代碼:NDM;紐約證券交易所美國股票代碼:NAK)(“北王朝” 或 “公司”)宣佈,繼2023年12月11日發行後,它已完成可轉換票據和非經紀私募發行。
根據協議條款,科白尼環球投資有限責任公司已代表其客戶購買了本金總額爲1500萬美元的可轉換票據(“票據”)(“可轉換票據發行”)。
公司還通過非經紀私募發行和出售了公司8,555,000個單位(“單位”),價格爲每單位0.40加元,總收益爲3,422,000加元(“單位發行”)。
票據和單位是根據適用證券法的招股說明書要求和其他類似要求的豁免發行的。根據加拿大和美國適用的證券法,票據和單位將受到轉售限制。
總裁兼首席執行官羅恩·蒂森指出:“公司將使用這些資金繼續以負責任的方式推進Pebble項目,造福所有阿拉斯加人,尤其是阿拉斯加西南部離Pebble項目最近的阿拉斯加人。這樣,所有阿拉斯加人都可以從國家提供的寶貴的漁業和世界一流的礦產資源資產中受益;不能兩者兼而有之。”
關於北朝礦業有限公司
Northern Dynasty是一家總部位於加拿大溫哥華的礦產勘探和開發公司。北王朝的主要資產由其位於阿拉斯加的全資美國子公司Pebble Limited Partnership擁有,是阿拉斯加西南部1,840個礦產地塊的100%權益,包括距離安克雷奇200英里、距離布里斯托爾灣125英里的卵石礦牀。Pebble Partnership是圓石項目的支持者。
有關北方王朝和卵石項目的更多詳情,請訪問公司網站www.northerndynastyminerals.com,或致電 (604) 684-6365 或致電 1-800-667-2114 聯繫投資者服務部。查看公開文件,包括有關公司和加拿大卵石項目的前瞻性信息、警示語言和風險因素披露,網址爲www.sedarplus.ca,在美國的www.sec.gov。
羅納德·W·蒂森
總裁兼首席執行官
美國媒體聯繫人:
Dan Gagnier,Gagnier Communications (646) 569-
前瞻性信息和其他警示因素
本新聞稿包括根據1995年《美國私人證券訴訟改革法》和加拿大省級證券法的適用條款可能被視爲 “前瞻性陳述” 的某些陳述。除歷史事實陳述外,本新聞稿中涉及Pebble Project的許可、開發和生產的所有陳述均爲前瞻性陳述。其中包括有關以下內容的聲明:(i)每次可轉換票據發行和單位發行的收益的用途;(ii)Pebble Project最終獲得所有必需的聯邦和州許可的能力;(iii)如果最終獲得許可,證明Pebble項目具有商業可行性的能力;(iv)公司和/或阿拉斯加州成功質疑美國環保局在《清潔水法》下的最終決定程序的能力;以及 (v) 公司獲得大量額外資金的能力融資,包括可轉換票據發行和單位發行的收益,爲這些目標提供資金,並最終爲礦山建設提供資金,NDM可能無法以可接受的條件或任何條件提供這方面的融資。
儘管NDM認爲這些前瞻性陳述中表達的預期是基於合理的假設,但不應以任何方式將此類陳述解釋爲Pebble項目將獲得所有必需的政府和環境許可,這些許可涉及NDM根據EPA的最終決定開發Pebble項目的能力或NDM獲得大量額外融資的能力。
NDM在制定前瞻性陳述時使用的假設包括以下假設:(i)Pebble項目最終將獲得所有必需的環境和其他許可證以及所有土地使用和其他許可;(ii)美國環保局在最終決定中採取的任何行動最終都不會成功限制或禁止Pebble項目的開發;(iii)公司或其子公司將能夠獲得大量額外融資。
NDM 還受採礦業務固有的特定風險以及總體經濟和商業條件的影響。投資者還應考慮公司截至2022年12月31日止年度的年度信息表中確定的風險因素,該表已在SEDAR plus上提交,幷包含在公司向美國證券交易委員會提交的有關EDGAR的40-F表年度報告中,以及公司截至2022年12月31日止年度和截至2023年9月30日的九個月的管理層討論與分析(均在SEDAR plus和EDGAR上提交),以討論這些因素可能影響我們的前瞻性陳述的風險。
《國家環境政策法》環境影響聲明程序要求進行全面的 “替代方案評估”,以考慮廣泛的開發替代方案,Pebble Project及相關基礎設施的最終項目設計和運營參數可能與目前設想的有很大不同。因此,該公司將繼續考慮各種開發方案,目前尚未選擇最終的項目設計。
有關公司的更多信息,投資者應查看公司向美國證券交易委員會提交的文件,網址爲 www.sec.gov 及其所在地司法管轄區的文件,可在以下網址獲得 www.sedarplus.ca。
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