Canadian project developer Northern Vertex Mining and Guernsey-based private equity fund Greenstone Resources has formed a partnership that will strengthen Northern Vertex’s balance sheet and expedite construction, procurement and staffing initiatives as the company works up to decalring commercial production at the Moss gold/silver project, in Arizona, later this year.
Under terms of the deal, Greenstone has agreed to buy about 51.77-million Northern Vertex units at C$0.52 apiece, for US-dollar-denominated proceeds of $20-million. Each unit will consist of one common share of the company and half of a non-transferable common share purchase warrant.
