VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 12, 2014) - NORTHAVEN RESOURCES CORP. (TSX VENTURE:NTV) announced today it has arranged a private placement for gross proceeds of up to $1,000,000.00 CDN (the "Placement"). The Placement will be in the form of up to 15,000,000 common shares offered at $0.05 per share ($750,000 in gross proceeds) and up to 4,166,667 flow-through common shares offered at a price of $0.06 per share ($250,000 in gross proceeds).
The net proceeds of the flow-through portion of the Private Placement will be used to cover expenditures on the Company's properties in British Columbia qualifying as "Canadian Exploration Expense". The net proceeds of the non-flow-through portion of the placement after paying transaction costs will be used for payment of indebtedness and working capital.
The Placement is subject to acceptance for filing by the TSX Venture Exchange and completion of closing procedures.
On behalf of the Board of Directors of NORTHAVEN RESOURCES CORP.
Allen D. Leschert, CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to certain factors, many of which are beyond Northaven's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.
For further information, please visit Northaven's website at http://www.northavenresources.com/.