NAI

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAW. 


Northern Abitibi Mining Corp. ('Northern Abitibi') (TSX VENTURE:NAI) is pleased
to announce a proposed non-brokered private placement of up to 2,083,333 units
("Common Units") at a price of $0.12 per Common Unit and up to 2,307,692
flow-through units ("FT Units") at a price of $0.13 per FT Unit for gross
proceeds of up to $550,000. 


Each Common Unit will consist of one common share and one common share purchase
warrant. Each common share purchase warrant will entitle the holder to purchase
one common share at a price of $0.20 per share for a period of two years
following closing. 


Each FT Unit will consist of one common flow-through share and one-half of one
common share purchase warrant. Each whole common share purchase warrant will
entitle the holder to purchase one common share at a price of $0.20 per share
for a period of two years following closing. 


The Common Units and FT Units will be offered on a non-brokered basis by way of
private placement to accredited investors and any securities issued will be
subject to a hold period of four months plus one day from the date of closing. A
finder's fee of up to $38,500 (7% of gross proceeds) and up to 307,372 brokers'
warrants (7% of the aggregate of total common shares and common flow-through
shares issued pursuant to the offering) will be paid to eligible agents pursuant
to the offering. Each brokers' warrant will be exercisable at an exercise price
of $0.12 into one common share for a period of two years following closing.


This financing is subject to TSX Venture Exchange and regulatory approval. 

Proceeds of the financing will fund 2011 exploration at the Viking gold property
in Newfoundland and provide general working capital. 


Dr. Shane Ebert, P.Geo., is the Qualified Person responsible for the preparation
of this news release.


Shane Ebert, President/Director

Except for the historical and present factual information contained herein, the
matters set forth in this news release, including words such as "expects",
"projects", "plans", "anticipates" and similar expressions, are forward-looking
information that represents management of Northern Abitibi's internal
projections, expectations or beliefs concerning, among other things, future
operating results and various components thereof or the economic performance of
Northern Abitibi. The projections, estimates and beliefs contained in such
forward-looking statements necessarily involve known and unknown risks and
uncertainties, which may cause Northern Abitibi's actual performance and
financial results in future periods to differ materially from any projections of
future performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, among other things, those
described in Northern Abitibi's filings with the Canadian securities
authorities. Accordingly, holders of Northern Abitibi shares and potential
investors are cautioned that events or circumstances could cause results to
differ materially from those predicted. Northern Abitibi disclaims any
responsibility to update these forward-looking statements.

Grafico Azioni Northern Abitibi Mining Corp. (TSXV:NAI)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Northern Abitibi Mining Corp. (TSXV:NAI)
Storico
Da Giu 2023 a Giu 2024