VANCOUVER, Jan. 26, 2017 /CNW/ - Northern Dynasty Minerals
Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the
"Company") is pleased to report that it has closed its
previously announced bought deal offering, including the exercise
in full of the Underwriters' over-allotment option (the
"Offering"). A total of 20.24 million common shares of the
Company were sold at a price of US$1.85 per share for gross proceeds of
US$37.444 million. The Offering
was completed pursuant to an underwriting agreement dated
January 12, 2017 among the Company
and Cantor Fitzgerald Canada Corporation, TD Securities Inc. and
BMO Capital Markets, as co-lead underwriters and joint bookrunners,
and Canaccord Genuity Corp., CIBC World Markets Inc. and Haywood
Securities Inc., as co-managers (collectively, the
"Underwriters"). The Company paid a 5% commission to
the Underwriters.
The proceeds of the Offering are anticipated to be used by the
Company for (i) advancement of the Company's multi-dimensional
strategy to address the pre-emptive regulatory action of the U.S.
Environmental Protection Agency under Section 404 (c) of the Clean
Water Act; (ii) preparation of the Pebble Project for the
initiation of federal and state permitting under the U.S. National
Environmental Policy Act; (iii) environmental monitoring,
engineering and environmental studies, field investigations and
related technical studies to finalize a proposed development plan
for the Pebble Project, (iv) enhanced outreach and engagement with
political and regulatory offices in the Alaska state and U.S.
federal government and among Alaska Native partners and broader
regional and state-wide stakeholder groups, (v) Alaskan corporate,
tenure and site maintenance, (vi) general corporate purposes, and
(vii) working capital requirements.
The Offering was completed by way of a prospectus filed in all
of the provinces of Canada, other
than Québec, and was offered in the
United States pursuant to a prospectus filed as part of an
effective registration statement on Form F-10 filed with the United
States Securities and Exchange Commission under the Canada/U.S. multi-jurisdictional disclosure
system. This press release does not and shall not constitute
an offer to sell or the solicitation of an offer to buy any of the
securities, nor shall there be any sale of the securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any state or jurisdiction. The securities being
offered have not been approved or disapproved by any regulatory
authority, nor has any such authority passed upon the accuracy or
adequacy of the prospectus or the registration statement.
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development
company based in Vancouver,
Canada. Northern Dynasty's principal asset is the Pebble
Project in southwest Alaska, USA,
an initiative to develop one of the world's most important mineral
resources.
Ronald W. Thiessen
President & CEO
Forward Looking Information and other
Cautionary Factors
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation, and
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively referred to as "forward-looking information"). The
use of any of the words "expect", "plan", "update" and similar
expressions are intended to identify forward-looking information or
statements. These statements include expectations about the
use of net proceeds of the Offering, the success of the Company's
multi-dimensional strategy to address the pre-emptive action of the
EPA, the ability of the Company to proceed with permit applications
for the development of the Pebble Project and the ability of the
Company to obtain the necessary federal and state permits for the
development of the Pebble Project. Though the Company believes the
expectations expressed in its forward-looking statements are based
on reasonable assumptions, such statements are subject to future
events and third party discretion such as regulatory approval. For
more information on the Company, and the risks and uncertainties
connected with its business, Investors should review the Company's
home jurisdiction filings at www.sedar.com and its filings with the
United States Securities and Exchange Commission at
www.sec.gov.
SOURCE Northern Dynasty Minerals Ltd.