Northern Dynasty Minerals (NDM-V) has arranged a private placement of 600,000 units priced at $1.20 each.
A unit consists of one common share and one non-transferable share purchase warrant, which can be used to buy one additional common share at $1.20 for a 12-month period.
The proceeds will be used to evaluate the potential acquisition and development of mineral properties.
In the meantime, Northern Dynasty and Pacific Sentinel Gold (PSG-V) have ended their option agreement on the Babine property in north-central British Columbia.
Earlier this year, six holes were drilled to test the property for potential copper-gold porphyry mineralization, but these failed to encounter significant values.
Both Northern Dynasty and Pacific Sentinel are managed by Robert Hunter and Robert Dickinson.
Be the first to comment on "Northern Dynasty raises financing"