Northern Tiger Resources Closes Private Placement Raising $1.9 million
September 21, 2012: Northern Tiger Resources Inc. ("Northern Tiger" or the "Company") (NTR: TSX-V) is pleased to announce that, subject to final TSX Venture Exchange acceptance, it has closed a non-brokered private placement of 15,765,000 units ("Units") at a price of $0.12 per Unit for aggregate gross proceeds of $1,891,800 ("Offering").
The Units were sold to qualified purchasers in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. The net proceeds from the Offering will be used primarily for exploration on Northern Tiger's 3Ace and Sprogge Properties in the southeast Yukon.
In connection with the private placement and in accordance with regulatory requirements, the Company paid certain arms-length parties an aggregate of $114,906 cash and issued an aggregate of 1,021,550 non-transferable share purchase warrants ("Finder's Warrants") to acquire 1,021,550 Common Shares. The Finder's Warrants are exercisable at a price of $0.18 for a period of twenty-four months from the date of issuance. The TSX Venture Exchange has conditionally accepted the Offering and finder's fees.
Northern Tiger Resources Inc. (NTR: TSX-V) is a Canadian-based resource exploration company focused on gold and copper exploration in the Yukon, where it has a strong portfolio of projects. Drilling in 2011 intersected 4.6 g/t gold over 35.0 metres (including 106.2 g/t gold over 1.0 metre) at the Company's flagship 3Ace Project in southeast Yukon. The Sonora Gulch copper-gold-silver porphyry project in central Yukon also returned significant drill results in 2011, including 0.45 g/t gold and 3.0 g/t silver over 234.0 metres.
For further information please contact:
Greg Hayes, President and CEO
September 21, 2012 (Source: Northern Tiger Resources)
Disclosure: Northern Tiger Resources is a Vulture Bargain Candidate of Interest (VBCI) and is our fully fledged Vulture Bargain #7. Members of the GGR team are actively accumulating and hold long positions in NTR.V or NTGSF.