VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 3, 2013) -NORTHAVEN RESOURCES CORP. (TSX VENTURE:NTV) announces it has received conditional acceptance for filing by the TSX Venture Exchange for completion of a five to one (5:1) consolidation of its shares (the "Consolidation") and a contemporaneous private placement (the "Private Placement"), both of which were previously announced on May 6, 2013. The Private Placement will result in the issuance of 6,666,667 post-consolidation common shares at a post-consolidation price of $0.056 per share, for gross proceeds of $375,000 (the "Private Placement") contemporaneously with the Consolidation. Proceeds of the placement will be used to fund payment of existing indebtedness of the Company and to provide for additional working capital. All securities under the Placement are subject to a statutory hold period restricting trading of the securities for 4 months plus one day after the date of distribution.
The Company has also been advised by the Exchange that subject to a satisfactory reinstatement review that the Company will be reinstated for trading. An Exchange bulletin will be issued when the Company is reinstated for trading on a post consolidated basis.
On behalf of the Board of Directors of NORTHAVEN RESOURCES CORP.
Allen D. Leschert, CEO
For further information, please visit Northaven's website at http://www.northavenresources.com/.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to certain factors, many of which are beyond Nor haven's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.