Vancouver, BC / TheNewswire / March 26, 2018 - Northern Lights Resources Corp. (the “Company”) announces that it has closed a shares-for- debt settlement whereby an aggregate of 8,954,327 shares will be issued at $0.05 per share to settle a total of $376,885.56 of principal plus interest. The 8,954,327 shares include a 20% common stock bonus, as agreed to by the Company at the time of the loans. The closing date for interest calculation was Friday March 23, 2018.

 

The common shares issuable pursuant to the debt settlement will be issued in reliance on certain prospectus and registration exemptions available under applicable securities legislation, and will be subject to a hold period of four months and one day in accordance with applicable securities legislation and exchange requirements.

 

Mr. Albert (Rick) Timcke states “The loans the Company received were pivotal in helping the Company secure its new projects - the Medicine Springs zinc–lead–silver project in Nevada and the Del Undur titanium-iron project in Mongolia, and helping the Company receive its conditional listing approval from the Canadian Stock Exchange. We appreciate the cooperation and support of all the lenders who assisted the Company during its restructuring phase.”

 

On February 23, 2018 the Company announced that it had received conditional listing approval for the Canadian Securities Exchange.

 

ON BEHALF OF THE BOARD:

Albert R. Timcke

President

 

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 business and operations of the Company after the proposed new business; and the relisting of the Company’s shares on the CSE. 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. 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.

  

 

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1000 - 355 Burrard Street, Vancouver, British Columbia