VANCOUVER, Sept. 29, 2017 /CNW/ - Northern Vertex Mining Corp. (TSX.V:NEE) (OTC Nasdaq Intl.:NHVCF) (the "Company" or "Northern Vertex") is pleased to announce, through its wholly owned subsidiary Golden Vertex Corp., that it has executed a definitive Master Lease Agreement ("MLA") for up to US$9 million with Caterpillar Financial Services Corporation ("Cat Financial") to fund the Company's purchase of certain key pieces of Cat® equipment, including power generators and mobile equipment and the crushing plant for use at the Company's Moss Mine gold silver project, located in NW Arizona, USA. In addition, the Company has drawn the first $5,757,503 of the MLA to fund the crushing plant.
The terms of the equipment finance facility (the "Equipment Finance Facility") are substantially the same as previously disclosed in the news release dated May 2, 2017. The term of the Equipment Finance Facility will be 4 years from delivery and will be secured by the equipment purchased. Title of the leased equipment will transfer to the Company for nominal consideration at the end of the lease period.
About Northern Vertex
Northern Vertex Mining Corp. is an exploration and mining company focused on the reactivation of its 100% owned Moss Mine Gold/Silver Project located in NW Arizona, USA. The Company's experienced management team has a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX
President & CEO
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.
The information in this news release has been prepared as at September 29, 2017. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms, and include, without restriction, statements regarding the proposed use of the proceeds of the Greenstone Financing.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based More particularly, this release contains statements concerning the anticipated use of the proceeds of the Greenstone Financing. There can be no assurance that the proceeds of the Greenstone Financing will be used as anticipated. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.
SOURCE Northern Vertex Mining Corp.
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