Northern Dynasty Set to Close $30.8 Million Financing.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Northern Dynasty Minerals Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE: NDM NDM Nonfat Dry Milk NDM National Democratic Movement NDM Network Data Mover NDM Natural Disaster Management NDM Newspaper Designated Market NDM Near Dry Machining (applying a very small amount of lubricant in lieu of flood coolant) )(AMEX AMEX See: American Stock Exchange : NAK (Negative AcKnowledgement) A communications code used to indicate that a message was not received, or that a terminal does not wish to transmit. Contrast with ACK. NAK - Negative Acknowledgement ) Ronald W. Thiessen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Northern Dynasty Minerals Ltd. is pleased to announce that Northern Dynasty has executed agreements with a number of accredited investors to privately place approximately 7.25 million Units in its capital at Cdn$4.25 each. A Unit consists of one Northern Dynasty common share and one common share purchase warrant exercisable for 18 months from closing at Cdn$5.00 per common share. Preliminary Canadian regulatory approval has been received and closing of the financing is expected to occur in approximately 10 days, subject to AMEX acceptance. All these securities will be subject to 4 month resale restrictions in Canada and will also be subject to resale restrictions as unregistered securities under United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. securities laws. Approximately 1.18 million Units of this placement were purchased by an affiliated corporation Affiliated corporation A corporation that is an affiliate to the parent company. , Galahad Gold Plc and its associates. Intermediary fees of approximately 6% will be paid in cash respecting the Units sold other than those placed with Galahad. The proceeds of this financing will be used during 2005 to fund delineation drilling of the new East Zone discovery located on the eastern flank of the Pebble deposit and comprehensive engineering and environmental/socioeconomic work designed to complete a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. and prepare environmental permit applications for a large scale open pit mining operation. ON BEHALF OF THE BOARD OF DIRECTORS Ronald W. Thiessen, President & CEO Forward Oriented Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including those that announce proposed financings that the Company expects to complete, are forward-looking statements. Although Northern Dynasty believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the failure of investors who are believed to have committed to the financings to fail to complete them as a result of general market conditions, adverse developments unique to such investors or otherwise. Accordingly, the actual amounts raised may differ materially from those projected in the forward-looking statements. For more information on the Northern Dynasty, Investors should review the Company's annual Form on 20F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com. No regulatory authority has approved or disapproved the information contained in this news release. |
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