/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSMINATION
IN THE UNITED STATES/
TSX-V Symbol: NL
Frankfurt Symbol: N3E
VANCOUVER, Dec. 30, 2016 /CNW/ - Northern Lion Gold Corp. (the
"Company") is pleased to announce the closing today of its non-brokered private placement of 5,000,000 units (the
"Units") of the Company at a price of $0.10 per Unit for aggregate proceeds of $500,000 (the "Offering"). Each Unit is comprised of one common share of the Company (a "Share")
and one common share purchase warrant (a "Warrant") entitling the holder to subscribe for one additional Share at a price of
$0.20 per Share until the date that is five years from the date of issuance.
The proceeds of the Offering are expected to be used for corporate overhead purposes and to establish a reserve for potential
acquisition opportunities.
All securities issued in connection with the Offering are subject to a statutory four-month hold period expiring May 1, 2017.
Pursuant to the Offering, each of the following persons (each an "Acquiror") has acquired direct ownership of 625,000
Units at a price of $0.10 per Unit for an aggregate purchase price of $62,500, each Unit consisting of one Share and one Warrant:
|
Name, Address, Jurisdiction of Organization and Principal Business of
Acquiror, as applicable
|
Number of Shares Acquired
|
Number of Warrants Acquired
|
Number and Percentage of Shares and Warrants Held Immediately Before
Offering
|
Number and Percentage of Shares Held Immediately After Offering
|
Number and Percentage of Shares Held Assuming Exercise of Warrants (on a
partially diluted basis) 1
|
|
Luke Norman Consulting Ltd.
2000 – 1177 W. Hastings St.
Vancouver, B.C. V6E 2K3
Jurisdiction – British Columbia
Business - consulting
|
625,000
|
625,000
|
Nil or 0%
|
625,000 or 9.64%
|
1,250,000 or 17.59%
|
|
Daryl Koehn
#3 – 50072 Patterson Rd
Chilliwack, B.C. V4Z 1J6
|
625,000
|
625,000
|
Nil or 0%
|
625,000 or 9.64%
|
1,250,000 or 17.59%
|
|
R. Justin Fraser
433 East Queens Road
North Vancouver, B.C.
V7N 4G7
|
625,000
|
625,000
|
Nil or 0%
|
625,000 or 9.64%
|
1,250,000 or 17.59%
|
|
Stetson Capital Management LLC
68 Fiesta Way
Fort Lauderdale, FL 33301 USA
Jurisdiction – Florida
Business - Investments
|
625,000
|
625,000
|
Nil or 0%
|
625,000 or 9.64%
|
1,250,000 or 17.59%
|
|
Titan Multi-Strategy Fund I, Ltd.
5825 Windsor Court
Boca Raton, FL 33496 USA
Jurisdiction - Florida
Business - Investments
|
625,000
|
625,000
|
Nil or 0%
|
625,000 or 9.64%
|
1,250,000 or 17.59%
|
|
ATG Capital LLC
808 Solar Isle Dr.
Fort Lauderdale, FL 33301 USA
Jurisdiction - Florida
Business - Investments
|
625,000
|
625,000
|
Nil or 0%
|
625,000 or 9.64%
|
1,250,000 or 17.59%
|
|
GRQ Consultants Inc.
555 S. Federal Hwy #450
Boca Raton, FL 33432 USA
Jurisdiction - Florida
Business - Investments
|
625,000
|
625,000
|
Nil or 0%
|
625,000 or 9.64%
|
1,250,000 or 17.59%
|
|
1. This figure assumes that no other Warrants are exercised.
|
Each of the Acquirors has acquired its respective Shares and Warrants for investment purposes, and depending on market and other
conditions, it may from time to time in the future increase or decrease its ownership, control or direction over securities of the
Company through market transactions, private agreements or otherwise.
Early warning reports for each of the Acquirors (collectively the "Early Warning Reports") containing additional
information with respect to the foregoing matters will be filed under the Company's SEDAR profile at www.sedar.com.
Further information or copies of the Early Warning Reports may be obtained by contacting John
Lando, President of Northern Lion Gold Corp., at (604) 669 – 2701.
NORTHERN LION GOLD CORP.
John Lando, President
This news release includes "forward-looking information", as such term is defined in applicable securities laws. The
forward-looking information includes statements about the Offering and the anticipated use of proceeds therefrom. These statements
reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The
Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a
number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and
uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's
limited operating history; the need to comply with environmental and governmental regulations; potential defects in title to the
Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks;
competition; and other risks and uncertainties. Accordingly, actual future events, conditions and results may differ materially
from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements
are made as of the date of this news release and, except as required by law, the Company is under no obligation to update or alter
any forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES
OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT
SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
SOURCE Northern Lion Gold Corp.
