Vancouver, British Columbia, February 3, 2025 – TheNewswire -  Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE:NLR, OTC: NLRCF) announces that it has completed a non-brokered private placement (the "Financing") of subscription receipts (the "Subscription Receipts") for aggregate gross proceeds of C$100,000 with arms-length private investors (the “Investors”). The Financing is being undertaken in connection with the settlement of outstanding debt owed by the Company to Mirabel Capital, Ltd. (“Mirabel”).

Financing

The Investors have subscribed for four million Subscription Receipts offered by Northern Lights at an issue price of C$0.025 per Subscription Receipt (the "Issue Price") for aggregate gross proceeds of C$100,000. Each Subscription Receipt entitles the Investor to receive, upon completion of a debt settlement agreement between Northern Lights and Mirabel, and without payment of any additional consideration, one (1) unit in the capital of Northern Lights (each, an "Underlying Unit"), with each Underlying Unit consisting of one (1) common share in the capital of Northern Lights (an "Underlying Share") and one whole share purchase warrant (an "Underlying Warrant"). Each Underlying Warrant will entitle the holder to acquire one (1) additional common share, at an exercise price of C$0.05 per share, for a period of 24 months from the issuance of the Underlying Units.

No finders fees are payable in connection with the Financing.  Should a settlement agreement not be finalized with Mirabel by February 14, 2025 (or such later date as may be negotiated), the subscription proceeds will be returned to the Investor without interest or deduction.

For Further Information

3.Albert Timcke, Executive Chairman and President

4.Email: rtimcke@northernlightsresources.com

5.Tel: +1 604 608 6163

6.        Jason Bahnsen, Chief Executive Officer

7.Email: Jason@northernlightsresources.com

8.Tel: +1 604 608 6163

12.About Northern Lights Resources Corp.

Northern Lights Resources Corp is a growth-oriented exploration and development company advancing two key projects: the Horetzky Copper Project, located in the Babine Porphyry belt of central British Columbia and the 100% owned, Secret Pass Gold Project located in Arizona. Northern Lights also holds a 1% NSR royalty on the Medicine Springs Silver Project in Nevada owned by Reyna Silver Corp.

 

Northern Lights Resources trades under the ticker of “NLR” on the CSE and on the OTC under the ticker “NLRCF”. This and other Northern Lights Resources news releases can be viewed at www.sedar.com  and www.northernlightsresources.com.

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation.  Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Financing.  There is no assurance any settlement agreement will be finalized with Mirabel.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements.  The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.