Northern Vertex Completes US$28 Million Refinancing Balance Sheet Fortified, Senior Debt Repaid

Dec 12, 2018 Download PDF   Share:  Share on Facebook   Share on Twitter   Share on Google Plus   Share on LinkedIn


December 12, 2018,Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE)(OTC Nasdaq Intl.: NHVCF)(the “Company” or “Northern Vertex”) is pleased to announce that it has today completed the US$28,000,000 refinancing announced in the Company’s press release dated December 6, 2018.  The refinancing consists of a US$20,000,000 upfront payment (the “Upfront Payment”) from Maverix Metals Inc. (“Maverix”) to the Company’s wholly-owned subsidiary Golden Vertex Mining Corp. (“Golden Vertex”), which holds the Moss Mine, pursuant to a silver streaming agreement with Maverix and a concurrent, fully-funded private placement for gross proceeds of US$8,000,000 private placement (the “Private Placement”).

A portion of the proceeds of the Upfront Payment and the Private Placement were used to fully repay the Company’s senior secured credit facility with Sprott Private Resource Lending (Collector), LP and to repay US$2,000,000 of certain indebtedness owed to Greenstone Resources II L.P.  Northern Vertex intends to use the balance of the proceeds to fund the continued ramp up of mining operations at the Moss Mine and for working capital and general corporate purposes.

An aggregate of 44,596,666 units (each, a “Unit”) were issued in connection with the Private Placement.  Each Unit consists of one common share in the capital of the Company and one transferable common share purchase warrant (each, a “Warrant”).  Each Warrant entitles the holder thereof to acquire one common share in the capital of the Company at an exercise price of $0.40 until December 12, 2020.  All securities issued pursuant to the Private Placement are subject to a four month hold period expiring on April 13, 2019.  The Private Placement is subject to the final acceptance of the TSX Venture Exchange.

About Northern Vertex
Northern Vertex Mining Corp., the newest gold producer in the US, is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the flagship Moss Mine achieving commercial production the Company intends to consolidate additional producing or near-term production gold assets within the Western US. Through mergers and acquisitions Northern Vertex’s corporate goal is to become a mid-tier gold producer with over 200,000 ounces of gold production annually.

“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.

Cautionary Note Regarding Forward-Looking Statements:
The information in this news release has been prepared as at December 12, 2018. 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, and include, without restriction, the receipt of TSX Venture Exchange final acceptance  of the Private Placement and the proposed use of the proceeds of the Upfront Payment and the Private Placement.

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 scheduled, may, intend, plan, expect, anticipate, believe or other similar words. 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.  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. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. To the best of management’s knowledge, As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.  US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.

2018 number 23