TORONTO, ON / ACCESSWIRE / October 17, 2016 / Northern Sphere Mining Corp. (CSE:NSM) ("Northern Sphere" or the "Company") announced today that it proposes to effect a debt conversion of approximately $87,000 owing to certain creditors of the Company. The debt conversion will consist of the issuance of common shares of the Company at a conversion price of $0.20 per common share.
Common shares issued on the conversion of outstanding debt, will be subject to a four-month hold period from the date of closing.
About Northern Sphere Mining Corp.
Northern Sphere Mining is dedicated to growth through the acquisition and development of mining assets, with an emphasis on near term production opportunities. Headquartered in Toronto, Ontario, Northern Sphere Mining has a strong project pipeline of properties with a focus on gold, silver and other metal production in pro-mining jurisdictions.
This press release contains forward-looking statements which reflect Northern Sphere's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Northern Sphere disclaims any obligation to update these forward-looking statements other than as required by applicable securities laws.
For further information, please contact:
Chief Executive Officer
Northern Sphere Mining Corp.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Northern Sphere Mining Corp.