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Northern Vertex (TSXV: NEE) Offered shareholders an incentive to excercise warrants

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The company is giving every warrant holder that exercises these warrants prior to March 22, 2017, a bonus of one-half of a warrant for every warrant exercised.

Additional Information:

Company: Northern Vertex Mining
Website: http://www.northernvertex.com
Stock Symbol: TSXV: NEE
Date Published: Feb 21, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Northern Vertex Mining has offered its shareholders an incentive to exercise the company’s outstanding warrants.

The company is in an enviable position with 29 million of its warrants in the money, exercisable at $0.45 and $0.50, with the shares currently trading at $0.60.

The company is giving every warrant holder that exercises these warrants prior to March 22, 2017, a bonus of one-half of a warrant for every warrant exercised.

Each new full warrant will be exercisable at $1.00 for a period of 48 months.

If all the warrants are exercised, the company will receive approximately $13.9 million.

Any warrants not exercised by March 22nd, will remain outstanding under their current terms.

Ken Berry, President and CEO, stated: “This is an opportunity for warrant holders to exercise their warrants early and receive an incentive to do so which will provide additional capital to continue the advancement of the construction of the Company’s Moss Mine gold-silver property located in Mohave County, NW Arizona. Moss is one of the few gold-silver deposits in the United States with advanced permits, situated in one of the most historic and active gold regions in Arizona. The improved investment environment for precious metal companies and the low capital costs required to place Moss into production has greatly enhanced the Company’s ability to expediate the advancement of the project to the construction and development phase.”

In November, the company signed a senior secured credit facility with Sprott Private Resource Lending, LP, an affiliate of Sprott Resource Lending Corp., under which Sprott will advance up to US$20,000,000 to fund development costs of the Company’s 100% owned Moss Gold/Silver Project.

The Moss Mine Gold-Silver Project is located in the Oatman Mining District, which reported historical production of approximately 2.5 million ounces of gold.

The nearby United Eastern Mine produced 770,000 ounces at an average grade of 1.12 ounces per ton gold over a 130 meter strike length.

The Moss Mine extends over a strike length of 1,400 meters and has been drill tested to depths of 370 meters vertically.

It is a potential heap leach, open pit project that has been advanced to the Feasibility Study stage to ensure that technical, economic, permitting and funding requirements are met prior to proceeding with the development of the mine.

It is scheduled to commence commercial gold-silver production in Q4 2017, with a capital cost estimated at US$33 million.

Based on a 2015 Feasibility Study, the mine is expected to generate an average annual production of 42,000 ounces of gold equivalent, with all-in sustaining costs of US$662 per ounce gold and an after-tax Internal Rate of Return of 48%, based on $1,250 per ounce gold and $20 per ounce silver.

The after-tax payback is just 2.3 years, with a 5-¬¬year mine life.

An additional resource of approximately 200,000 ounces of gold are still to be evaluated to extend the life of the mine.

For more information, please visit the company’s websites www.northernvertex.com, or contact investor relations at 604-601-3656 or email info@northernvertex.com.

I’m Samantha Deutscher for Investmentpitch Media