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Northern Vertex Announces $12.65 Million Non-Brokered Private Financing

Oct 18, 2011  Share:  Share on Facebook   Share on Twitter   Share on Google Plus   Share on LinkedIn

Vancouver, B.C. - Northern Vertex Capital Inc. (TSX.V:NEE) ("Northern Vertex") is pleased to announce a Non-Brokered private placement (the "Private Placement") of up to approximately 11 million units (each "Unit") at a purchase price of $1.15 per Unit, for aggregate gross proceeds to the Company of up to $12,650,000.

Each Unit will consist of one common share ("Common Share") of Northern Vertex and one-half of one transferable share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of $1.55 for a period of 24 months from the closing date of the Private Placement. The expiry date of the Warrants may be accelerated, at the sole option of the Company, to 30 business days following the date on which the Company gives notice that it's common shares have closed for 21 consecutive trading days at a price of $2.00 or greater. Finder's fees in cash or units and finder's warrants may be paid in connection with the Private Placement. All of the securities issued pursuant to the Private Placement will be subject to a minimum four month hold period. The net proceeds from the Private Placement will be used to finance acquisition and additional work on the Company's Lemhi property (see news release September 26, 2011), its other properties and for general working capital. The Private Placement and payment of any finder's fee are subject to acceptance by the TSX Venture Exchange.

Northern Vertex is a gold exploration and development company operating principally in the United States and Canada. The Company comprises an experience management group with a strong background in all aspects of acquisition, exploration, development and financing of precious metal mining projects. The Company's stated mandate is to acquire, develop and advance asset-based gold projects that demonstrate near term production potential and long-term sustainable growth.


ON BEHALF OF THE BOARD OF NORTHERN VERTEX

"Joseph Bardswich"
Director

For further information, please visit www.northernvertex.com
or contact Colin Clancy at Telephone: 604-601-3656

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Cautionary Note to US Investors:This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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