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  | | | April 16, 2010
Northern Tiger Resources Announces Non-Brokered Private Placement
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| | April 16, 2010: Northern Tiger Resources Inc. (NTR: TSX-V) today announced that it will be offering on a non-brokered private placement basis for aggregate gross proceeds of up to $2,500,000 (the "Offering"):
- units ("Units") at a subscription price of $0.20 per Unit. Each Unit will consist of one Class "A" Common Share of the Corporation ("Common Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Common Share for a price of $0.30 for a period of eighteen (18) months from the date of issuance, subject to earlier termination in the event that the closing price (or closing bid price on days when there are no trades) of the Common Shares on the TSX Venture Exchange exceeds $0.40 for 20 consecutive trading days; and
- Class "A" Common Shares to be issued as "flow through shares" ("FT Shares") at a subscription price of $0.25 per FT Share.
The Offering will be conducted in reliance upon certain prospectus and registration exemptions and all securities to be issued will be subject to a four month hold period. The net proceeds from the Offering will be used primarily for exploration on existing properties, and for general corporate purposes.
The Corporation may pay, in accordance with all regulatory requirements, finder's fees to agents for obtaining subscriptions for Units and FT Shares pursuant to TSX Venture Exchange Policy. Completion of the Offering is subject to all required regulatory approvals, including the acceptance of the TSX Venture Exchange.
Northern Tiger Resources Inc. is a Canadian-based resource exploration company focused on gold and copper exploration in the Yukon. Through its Dawson Range exploration alliance with Capstone Mining Corp.'s wholly owned subsidiary, Minto Explorations Ltd., Northern Tiger benefits from a wide range of experience, knowledge and capabilities from early exploration to mine production.
For further information please contact: Greg Hayes, President and CEO (info@northern-tiger.com).
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release |
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| | You can view the Next News Releases item: Mon May 3, 2010, Northern Tiger Resources Closes $3,010,000 Private Placement
You can view the Previous News Releases item: Tue Apr 13, 2010, Northern Tiger Resources Identifies Minto-style Drill Target on DAD Property in the Yukon's Dawson Range
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