THIS NEWS
RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO
TSX Venture
SYMBOL: NSM
August 21, 2009
Northern Star Completes
Subscription Receipt Financing
Vancouver, B.C., August 21, 2009 – Northern Star Mining Corp (NSM: TSX-V) 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.
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
“Jonathan Awde”
Jonathan Awde,
VP Corporate Finance
FOR FURTHER INFORMATION PLEASE CONTACT: Northern Star Mining Corporation TOLL FREE (800)
460-5031 or (819) 825-8088, (FAX) (819) 825-1199
Website:
www.nsmgold.com
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.
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CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO