Northland Resources Announces Filing of Preliminary Prospectus for Possible Equity Offering
(Thomson Reuters ONE) -
Luxembourg, November 20, 2010: Northland Resources S.A. (TSX: NAU, OSE: NAUR -
"Northland" or "the Company") announced that it has filed a preliminary short
form prospectus in all provinces of Canada other than Quebec in connection with
a contemplated offering of new shares of the Company. It is expected that an
offering will also be made in Europe, the United States and Asia, subject to
applicable law. If completed, the net proceeds of an offering are intended to
be used by Northland to fund capital expenditures at the Kaunisvaara Project,
for the feasibility study on the Hannukainen Project, for the feasibility study
on the Pellivuoma deposit, for exploration expenditures in Sweden and Finland
and for working capital and general corporate purposes. The timing of a launch
of an offering, the issue price of the shares and the number of shares to be
issued will be determined in the context of the market.
Pareto Securities AS and SEB Enskilda AS will act as European Lead Managers, and
Ocean Equities Ltd. and Ambrian Partners Ltd. will act as European Co-Lead
Managers, in connection with the offering to certain investors in Europe, the
United States, and Asia The Company has also engaged Haywood Securities Inc. to
act as the Company's North American Lead Agent in connection with the offering
in Canada and the United States.
Launch of an offering is conditional upon the necessary corporate resolution,
and an offering will be subject to all customary conditions and regulatory
approvals, including that of the Toronto Stock Exchange.
Northland is a development-stage mining company with a portfolio of iron
projects in northern Sweden and Finland. Northland's Kaunisvaara Project
contemplates the staged development of 2 magnetite iron ore deposits that would
provide feed to a single, multi-line processing facility in Sweden, producing a
high-grade, high-quality magnetite iron concentrate. The results of the
Feasibility Study on the Kaunisvaara Project were released September 27, 2010.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities described herein. Any such solicitation or
offer may only be made in accordance with applicable laws. The securities 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 unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
ON BEHALF OF THE BOARD
"Karl-Axel Waplan"
President & CEO
Northland Resources S.A.
For more information, please contact:
Karl-Axel Waplan, President and CEO: +46 705 104 239
Anders Hvide, Executive Chairman: +47 92 88 98 58
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1464308]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Northland Resources S.A. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 20.11.2010 - 01:00 Uhr
Sprache: Deutsch
News-ID 48968
Anzahl Zeichen: 3935
contact information:
Town:
Vancouver, BC V6C 2G
Kategorie:
Business News
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"Northland Resources Announces Filing of Preliminary Prospectus for Possible Equity Offering"
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