Northern acquires more HDG shares todayNorthern announces acquisition of additional equity interest in High Desert Gold
TORONTO, Nov. 5 /CNW/ - Northern Financial Corporation ("Northern") (TSX:
NFC) announced that it acquired today an additional 429,500 common shares of
High Desert Gold Corporation ("HDG"; TSX: HDG) representing approximately
1.05% of the total issued common shares of HDG. The HDG shares were acquired
on the Toronto Stock Exchange for investment purposes. The highest price paid
per HDG share was $0.19 and the average price paid per HDG share was $0.183.
Combined with the HDG common shares previously owned, Northern now owns a
total of 8,100,900 HDG shares, representing approximately 19.7% of the total
issued HDG shares, based on the number of issued and outstanding HDG shares
disclosed in HDG's press release on November 3, 2008.
Northern commenced an offer to acquire all of the HDG shares on
October 30, 2008 (the "Offer"). Copies of the Offer documents are available on
SEDAR at www.sedar.com.
During the currency of the Offer, Northern has acquired an aggregate of
806,000 HDG shares on the Toronto Stock Exchange at an average price per HDG
share of $0.183.