Northern Lights Acquisition Corp.

March 26, 2010 14:00 ET

Northern Lights Identifies Potential Qualifying Transaction

CALGARY, ALBERTA--(Marketwire - March 26, 2010) - Northern Lights Acquisition Corp. (the "Corporation") (TSX VENTURE:NLC) is pleased to announce that it has entered into an agreement in principle. Pursuant to the agreement in principle, the Corporation will acquire (the "Acquisition") 100% of a corporation located in Texas ("TargetCo") whose business is focused on oilfield manufacturing. The Acquisition is intended to constitute the Corporation's qualifying transaction under the policies of the TSX Venture Exchange.

TargetCo is presently in the process of determining market interest with respect to a financing proposed to be completed in conjunction with the Acquisition. It is anticipated that the terms of such financing will be determined in the next week at which time the Corporation will announce additional information regarding TargetCo and the Acquisition.

Completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance and if applicable pursuant to TSX Venture Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

Neither 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 release.

Contact Information

  • Northern Lights Acquisition Corp.
    James Bell
    President and Chief Executive Officer
    (403) 668-8365