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Northern Lights Resources Corp C.NLR

Alternate Symbol(s):  NLRCF

Northern Lights Resources Corp. is an exploration and development company. The Company is engaged in advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona and Caldera Copper Project located in Lincoln County, Nevada. The Secret Pass Gold Project totals over 271 hectares (ha) comprised of one State mineral license (212 ha) and eight Bureau of Land Management mineral claims (65 ha). The Caldera project consists of over 55 BLM mineral claims with a total area of approximately 418 hectares. It also holds a 1% NSR royalty on the Medicine Springs Silver Project in Nevada. The Medicine Springs Project is located on the eastern edge of the Carlin Trend in southeastern Elko County, Nevada. Medicine Springs is a district scale exploration project comprising over 599 mineral claims over a total area of approximately 4,830 ha. It also has an option agreement to acquire a 100% interest in the Horetzky Copper Project located in the Babine porphyry copper belt.


CSE:NLR - Post by User

Comment by ValueProon Sep 14, 2022 2:26pm
69 Views
Post# 34962384

RE:RE:RE:Anyone buying this is ignorant of the convertible note

RE:RE:RE:Anyone buying this is ignorant of the convertible note"The Company has issued to the Investor (i) a Convertible Security certificate for a principal amount of US$890,000; (ii) 3,122,743 Shares in satisfaction of a one-time fee (the “Fee Shares”); (iii) an initial issuance of 1,800,000 conversion shares (the Initial Conversion Shares”) to be counted towards the conversion of the Convertible Security or otherwise applied as set forth in the Company’s May 28, 2021 news release; ..."

May 28, 2021, NR has been removed from the company Web site, though I see nothing out of the ordinary regarding converting debt to shares.  Maybe you can explain, as I asked earlier, where you see something onerous.

"...and
(iv) 2,800,000 warrants, as a one-time issuance, each warrant entitling the holder to subscribe for one Share at the exercise price of C$0.068509 for the 48 months from the date of issue
Please refer to the Company’s news release of May 28, 2021 for details on the means and pricing of conversion of the Convertible Securities. In addition, the Company announces that 3,420,000 previously issued common share purchase warrants exercisable at $0.075 per share expiring July 4, 2021, have had the exercise expiry date extended to July 4, 2024."

What's the downside of warrants?  If they expire as worthless, they cost nothing.  If they get exercised, the company has achieved much higher share prices and an infusion of new money without paying fees.

Thanks for your willingness to explain things.

VP in AZ


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