VANCOUVER, March 18, 2019 /PRNewswire/
- Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE
American: NAK) ("Northern Dynasty" or the "Company")
is pleased to report that it has closed its previously announced
bought deal offering, including the exercise in full of the
over-allotment option (the "Offering"). A total of
17,968,750 common shares of the Company were sold at a price of
US$0.64 per share for gross proceeds
of US$11.5 million. The Offering
was completed pursuant to an underwriting agreement dated
March 13, 2019 among the Company and
Cantor Fitzgerald Canada Corporation, as lead underwriter and sole
bookrunner, and a syndicate of underwriters including BMO
Capital Markets, H.C. Wainwright & Co., LLC. and TD Securities
Inc. (collectively, the "Underwriters"). The Company
paid a 6% commission to the Underwriters.
The proceeds of the Offering are anticipated to be used for (i)
operational expenditures, including engineering, environmental,
permitting and evaluation expenses associated with the Pebble
Project and the advancement of completion of the United States Army
Corps of Engineers Environmental Impact Study, (ii) enhanced
outreach and engagement with political and regulatory offices in
the Alaska state and U.S. federal
government, Alaska Native partners and broader regional and
state-wide stakeholder groups, and (iii) general corporate
purposes. It remains one of the Company's goals to partner
the Pebble Project.
The Offering was completed by way of a prospectus supplement
(the "Prospectus Supplement") to the Company's existing
Canadian base shelf prospectus (the "Base Shelf Prospectus")
and related U.S. base shelf prospectus included in the Company's
registration statement on Form F-10 (SEC File No. 333-229262) (the
"Registration Statement") filed under the Canada/U.S. multi-jurisdictional disclosure
system. This press release does not constitute an offer to sell or
the solicitation of an offer to buy securities, nor will there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
The securities being offered have not been approved or disapproved
by any regulatory authority, nor has any such authority passed upon
the accuracy or adequacy of the Prospectus Supplement, the Base
Shelf Prospectus or the Registration Statement.
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 ("PLP"), is a 100%
interest in a contiguous block of 2,402 mineral claims in southwest
Alaska, including the Pebble
deposit. PLP is the proponent of the Pebble Project, an initiative
to develop one of the world's most important mineral resources.
Ronald W. Thiessen
President & CEO
Forward Looking Information and other
Cautionary Factors
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation, and
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively referred to as "forward-looking information"). The
use of any of the words "expect", "plan", "update" and similar
expressions are intended to identify forward-looking information or
statements. These statements include expectations about the use of
proceeds of the Offering, the finalization by the United States
Army Corps of Engineers of the Environmental Impact Study, the
ability of the Company to proceed with permit applications for the
development of the Pebble Project and the ability of the Company to
obtain the necessary federal and state permits for the development
of the Pebble Project. Though the Company believes the expectations
expressed in its forward-looking statements are based on reasonable
assumptions, such statements are subject to future events and third
party discretion such as regulatory personnel. For more information
on the Company, and the risks and uncertainties connected with its
business, Investors should review the Company's home jurisdiction
filings at www.sedar.com and its filings with the United States
Securities and Exchange Commission at www.sec.gov.
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SOURCE Northern Dynasty Minerals Ltd.