Northern Vertex Early Warrant Exercise Incentive Program

Feb 17, 2017 Download PDF   Share:  Share on Facebook   Share on Twitter   Share on Google Plus   Share on LinkedIn

February 17, 2017,Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE) (the “Company” or “Northern Vertex”) announces a warrant exercise incentive program (the "Program") designed to encourage the early exercise of up to 29,010,924 of its outstanding unlisted warrants (the "Warrants").

Kenneth Berry, President and CEO, stated “This is an opportunity for warrant holders to exercise their Warrants early and receive an incentive to do so which will provide additional capital to continue the advancement of the construction of the Company’s Moss Mine gold-silver property located in Mohave County, NW Arizona.”

Moss Mine Development Highlights:

  • Key Federal and State Permits for Phase II are in hand. The final amendment to the Aquifer Protection Permit is expected in March 2017, the closure costs calculation has been approved and thetotal bond of $1.4m bond submitted.
  • The ramp-up of site construction is continuing with bulk earthworks initiated, with the earthworks contractor having mobilized to the site and, the purchase of the main crushing plant scheduled for delivery and installation by Q2 2017.
  • Detailed engineering and mine planning for Phase II nearing completion and is advancing to a planned 95% completion by Q2 2017.
  • Procurement progress is tracking well, with all major items.
  • Completion of two new groundwater production wells that will supply make-up water for leaching of Moss ores.
  • Exploration program underway, eight drill holes complete, assays pending.
  • Engaging services of Mine Development Associates, of Reno, NV to initiate mine design for the Phase III Mine Plan of Operations and Permitting.
  • Continued advancement of local community initiatives, human resources initiative underway to enhance access to local labor pool and skilled work force.

There are currently five tranches of exercisable warrants outstanding, which are shown in the table below:

Warrants outstandingIssuedPriceExpiry
5,521,049July 3, 2014$0.50July 3, 2017
13,015,000July 8, 2015$0.45July 8, 2017
2,000,000July 11, 2014$0.50July 11, 2017
7,974,875March 31, 2016$0.50March 31, 2019
500,000April 4, 2016$0.50April 4, 2019

Pursuant to the Program, the Company is offering an inducement to each warrant holder that exercises their Warrants during a 30 calendar day early exercise period (the "Early Exercise Period"), consisting of an additional one-half of one transferable share purchase warrant, with each whole warrant (the "Incentive Warrant") entitling the holder to purchase one additional common share for a period of 48 months from the date of issuance of such Incentive Warrant at a price of $1.00 per common share. The Early Exercise Period will commence on Monday, February 20, 2017, at 9:00 a.m. PST and expire on March 22, 2017 at 4:30 p.m. PST (the "Early Exercise Expiry Date"). The Incentive Warrants will be subject to a four month hold period in Canada from the date of issuance. The Company will use its reasonable commercial efforts to apply to list the Incentive Warrants for trading on the TSX Venture Exchange (the “Exchange”), subject to compliance with the policies of the Exchange, including satisfying the public distribution requirements of such a listing, on the expiry of the four month hold period.

The terms and conditions of the Program and the method of exercising Warrants pursuant to the Program are set forth in a letter which is being delivered to the registered address of each eligible warrant holder. Warrant holders who wish to participate in the Program will agree to exercise their Warrants and deliver the other necessary documents in consideration of the issuance by the Company of the Incentive Warrants.

Any Warrants that are not exercised prior to the Early Exercise Expiry Date will remain outstanding and continue to be exercisable for common shares of the Company on their current terms.

The Program is subject to the receipt of all final regulatory approvals, including the final approval of the TSX Venture Exchange.

The Incentive Warrants to be issued pursuant to the exercise of the Warrants have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and any applicable state securities laws or an exemption therefrom is available.

About Northern Vertex

Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in NW Arizona, USA. 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.


"Kenneth Berry "

President & CEO

For further information, please visit
or contact Investor Relations at: 604-601-3656 or at 1-855-633-8798.

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:This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. More particularly, this release contains statements concerning the anticipated warrant incentive program. Accordingly, there is a risk that the warrants outlined in the release may not be exercised in their entirety, or part or at all. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.

2017 number 03