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TORONTO, Oct. 31, 2024 (GLOBE NEWSWIRE) — Northfield Capital Corporation (TSX-V: NFD.A) (“a company“) is pleased to announce its participation in the private placement (“an offer“”) from Hemlo Explorers Inc. (“Humlo“) which closed today. Northfield is a Hemlo insider, owning more than 10% of the issued and outstanding common shares of Hemlo. In connection with the offering, Northfield invested an aggregate of $128,000 in cash and acquired an aggregate of 2,560,000 units, consisting Each of one (1) ordinary share and one (1) warrant exercisable in exchange for one (1) ordinary share of Hemlo Northfield’s participation in the offering was deemed a “related party transaction” under the policies of the TSX Venture Exchange (“TSX Venture Exchange”). ).TSXV“) For the purposes of Multilateral Instrument 61-101 – Protection of minority securities holders in private investments ((MI 61-101The acquisition also constitutes auditable transactions under TSXV Policy 5.3 – Acquisitions and dispositions of non-monetary assets Approved by the TSXV.
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At the time of the offering, Northfield relied on the exemptions from formal evaluation and minority approval requirements set forth in Subsection 5.5(a) and (b) and Subsection 5.7(1)(a) of MI 61-101 because Northfield was not publicly listed. The fair market value of the Hemlo securities purchased by Northfield did not exceed 25% of their market value.
The company is a value-based investment and commercial banking firm focused on the resources (biominerals and precious metals) and transportation sectors.
For more information, please contact:
Michael J. Leskovec, Chief Financial Officer
Phone: (416) 628-5940
Neither the 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 press release.
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