Toronto, Ontario--(Newsfile Corp. - November 29, 2018) - Northern Sphere Mining Corp. (CSE: NSM) (OTC Pink: NSMCF) ("Northern Sphere" or the "Company") provides a corporate update.
The junior mining sector is currently at an all time low. Northern Sphere is looking beyond this state and to the future. We have been working to insure that when the market does change we will be ready and are conducting a detailed technical review of all three projects. We have worked hard to keep our outstanding shares low and maintain a relatively clean balance sheet by converting debt to equity and we are in the process of further reducing our overheads.
There is still much to be done but Management is confident we are taking the necessary steps to enable us to take advantage of the market opportunities as they arise.
The Company wishes to provide a correction to its previously announced private placement closing on September 21, 2018. A deposit of $50,000 submitted by one of the subscribers for 625,000 units, with each unit comprised of one common share and one common share purchase warrant of the Company at a price of $0.08 per unit, which was to be included in the September 21, 2018 closing was returned as non-sufficient funds ("NSF"). The Company is in possession of the share and warrant certificates and will be cancelling them and reporting the correction and cancellation with the CSE.
The Company further wishes to clarify that in its press release dated September 14, 2018 that included an announcement that the Company acquired the remaining 20% interest in the joint venture for the mineral property located in Scadding, Ontario from Trueclaim Exploration Inc. ("JV-Scadding"), this JV-Scadding includes obligations under the joint venture relating to claims held in the legal name of Currie Rose Resources.
About Northern Sphere Mining Corp.
Northern Sphere is dedicated to growth through the acquisition and development of mining assets with an emphasis on gold, silver and copper. In efforts to expedite and optimize mineral targeting on its assets, the Company is employing cutting-edge exploration technologies to generate robust mining projects. Headquartered in Toronto, Ontario, Northern Sphere 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:
A. John Carter
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.