Northern Star Mining Corporation
TSX VENTURE : NSM

Northern Star Mining Corporation

August 21, 2009 17:03 ET

Northern Star Completes Subscription Receipt Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2009) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Northern Star Mining Corp. (TSX VENTURE:NSM) is pleased to announce that further to its news release of August 12, 2009 the Company has completed its subscription receipt financing of CDN $23,212,458 (the "Financing") raised through a syndicate of agents lead by Casimir Capital LP ("Casimir") and including Canaccord Capital Corporation and Wellington West Capital Markets Inc. (the "Agents"). A total of 37,993,000 common shares at a price of $0.50 per share and 7,528,497 "flow-through" shares at a price of $0.56 per share have been issued, subject to a four month hold period expiring November 25, 2009. Warrants to purchase an additional 31,126,659 common shares at a price of $0.70 per share for a period of three years have also been issued in connection with the Financing while 45,000,000 existing warrants have been cancelled. A cash commission of 5% and agent's warrants to purchase a total of 3,186,506 common shares at a price of $0.50 per share for a period of three years was paid to the Agents for their services in connection with the Financing. An additional corporate finance fee was also paid to Casimir as lead agent.

ON BEHALF OF THE BOARD

Jonathan Awde, VP Corporate Finance

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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

Contact Information

  • Northern Star Mining Corporation
    Jonathan Awde
    VP Corporate Finance
    TOLL FREE (800) 460-5031 or (819) 825-8088
    (819) 825-1199 (FAX)
    www.nsmgold.com