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CALGARY,
Sept. 5, 2014 /CNW/ - Northern
Frontier Corp. (TSXV: FFF) (the "Corporation" or
"Northern Frontier") is pleased to announce today the
closing of the partial exercise of the over-allotment option
granted to the Underwriters in connection with the previously
announced bought deal equity offering (the "Offering") of
units (the "Units") comprised of one common share of the
Corporation and one warrant of the Corporation ("Warrant")
at a price of $2.15 per Unit (the
"Offering Price"). Pursuant to the Offering, a
syndicate of investment dealers co-led by Cormark Securities Inc.,
Acumen Capital Finance Partners Limited and GMP Securities L.P. and
including M Partners Inc. (the "Underwriters") have
partially exercised their over-allotment option and purchased an
additional 617,438 Units at the Offering Price and an additional
152,500 Warrants ("Option Warrants") at $0.04 per Option Warrant for additional gross
proceeds of approximately $1.33
million. Each Option Warrant will entitle the holder
to acquire one common share of the Corporation ("Warrant
Share") at a price of $3.40 per
Warrant Share until February 28,
2016.
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Securities Law Matters
This news release does not constitute an
offer to sell or the solicitation of an offer to buy any security
and shall not constitute an offer, solicitation or sale of any
securities in any jurisdiction in which such offering, solicitation
or sale would be unlawful.
This news release does not constitute an
offer of securities for sale in the
United States. The securities being offered have not been,
nor will they be, registered under the United States Securities Act
of 1933, as amended, and such securities may not be offered or sold
within the United States absent
U.S. registration or an applicable exemption from U.S. registration
requirements.
About Northern Frontier Corp.
Northern Frontier's strategic objective is to
create a substantial industrial and environmental services business
through a buy and build growth strategy. Currently, the Corporation
provides civil construction and excavation services to the
industrial energy industry, primarily in the in situ
Oilsands region south of Fort McMurray,
Alberta and on closing of the Acquisition, now provides bulk
water and fluids transfer logistic services in western Canada.
The Corporation's common shares and common share
purchase warrants are listed on the TSX Venture Exchange under the
trading symbol "FFF" and "FFF.WT", respectively.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Northern Frontier Corp.