Northern Financial Announces Proposed Financing of up to $500,000
of Common Shares
TORONTO, Jan. 8, 2013 /CNW/ - Northern Financial
Corporation (TSXV: NFC) ("Northern" or the "Company") today
announced that it is proposing to complete an offering of up to
$500,000 of common shares at a
minimum issue price of $0.01 per
share. The proceeds of the offering would be used to satisfy
the regulatory risk adjusted capital requirements of Northern's
wholly-owned subsidiary Northern Securities Inc., a registered
investment dealer.
It is anticipated that the financing would close
on or about January 11, 2013. The
completion of the offering is subject to receipt of regulatory
approval.
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. This press release may
contain forward-looking statements with respect to the Company, its
operations, strategy, financial performance and condition. These
statements generally can be identified by use of forward looking
words such as "may", "will", "expect", "estimate", "anticipate",
intends", "believe" or "continue" or the negative thereof or
similar variations. The actual results and performance of the
Company discussed herein could differ materially from those
expressed or implied by such statements. Such statements are
qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. Important factors that could cause
actual results to differ materially from expectations include,
among other things, general economic and market factors,
competition, changes in government regulations and the factors
described under "Risk Factors" in the Management's Discussion and
Analysis and Filing Statement of the Company which are available at
www.sedar.com. The cautionary statements qualify all
forward-looking statements attributable to the Company and persons
acting on their behalf. Unless otherwise stated, all
forward-looking statements speak only as of the date of this press
release and the Company has no obligation to update such
statements.
SOURCE Northern Financial Corporation