THIS NEWS
RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO
TSX Venture
SYMBOL: NSM
July 14, 2009
Northern Star Increases Subscription Receipts
Financing to $25,000,000
Val-d’Or, Quebec, July 14, 2009 – Northern Star Mining Corp (NSM: TSX-V)
announces that further to its news release of July 7, 2009 it has been advised
by the syndicate of agents led by Casimir Capital L.P. that they intend to
exercise their over-allotment option to sell up to an additional CDN$5,000,000
in subscription receipts to increase the total size of the private placement to
approximately CDN$25,000,000 (the “Financing”).
The final allocation of the Financing between unit subscription receipts and
“flow-through” subscription receipts remains subject to adjustment, however,
the Company understands that approximately 80% of the Financing will be
comprised of unit subscription receipts and 20% of the Financing will be
comprised of “flow-through subscription receipts. The purchase price for the “flow-through”
subscription receipts has also been re-priced at CDN$0.56 per subscription
receipt. In all other material respects, the Financing remains the same as
disclosed in the Company’s news release of July 7, 2009.
Closing
of the Financing is scheduled to occur on or about July 23, 2009 and remains
subject to the final acceptance of the TSX Venture Exchange and applicable
securities legislation.
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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