CALGARY, ALBERTA--(Marketwired - July 17, 2014) -
(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)
Northern Aspect Resources Ltd. (TSX VENTURE:NTH.H) (the "Corporation"), a capital pool company, has been advised that trading of its common shares on the NEX Board of the TSX Venture Exchange (the "Exchange") are scheduled to be reinstated effective at the opening of markets on July 18, 2014.
As described in its press release dated April 7, 2014, the common shares of the Corporation were transferred to the NEX after failing to complete its qualifying transaction on or before December 29, 2013. The common shares of the Corporation remained suspended from trading upon such transfer while the Corporation explored options to improve its working capital position. An application for reinstatement was subsequently submitted to the Exchange on July 8, 2014.
The Corporation also announces its intention to increase the size of its previously announced proposed private placement (the "Private Placement") (see the Corporation's June 5, 2014 press release) to up to 2,350,000 common shares of the Corporation at a price of $0.05 per share for gross proceeds of up to $117,500. The net proceeds of the private placement will be used towards identifying and evaluating businesses and assets with a view to completing a Qualifying Transaction and for general working capital purposes.
The Private Placement is subject to certain conditions, including approval of the NEX. The Common Shares will be subject to a hold period ending four months and a day from the date of closing of the Private Placement.
Certain statements in this release are forward-looking statements, which include the reinstatement of trading of the common shares of the Corporation and the anticipated use of the proceeds of the Private Placement. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of the Corporation. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.