Greenstone Resources subscribes for units of Northern Vertex Mining

Greenstone acquired 27,920,000 units of Northern Vertex Mining Corp (the “Company”) for a gross subscription price of approximately US$10,000,000. Each unit consists of one common share and one half of a common share purchase warrant. Each whole warrant has a term of five years and entitles Greenstone to acquire one common share of the Company at an exercise price of C$0.91 for a period of two years from Shareholder Approval (as defined below) and at a price of C$1.04 for the remainder of the term of the warrant. The acquisition of the units resulted in Greenstone owning 19.9% of the issued and outstanding shares of the Company (assuming no exercise of the warrants issued to Greenstone). Greenstone intends to subscribe for a second tranche of units following the approval of the shareholders of the Company (the “Shareholder Approval”) for the creation of the new “control person” as defined in the policies of the TSX Venture Exchange. The Company intends to seek Shareholder Approval at a special meeting to be held July 18, 2017. Assuming completion of the second tranche, Greenstone will have subscribed for a total of 51,769,230 units for an aggregate gross subscription price of US$20,000,000, representing an aggregate interest of approximately 29% of the issued and outstanding shares of the Company (assuming no exercise of the warrants issued to Greenstone). In connection with the subscription, Greenstone obtained the right, subject to Greenstone meeting certain shareholding thresholds, to nominate two directors to the Company’s board of directors. The Company also agreed to grant to Greenstone a standard pre-emptive right for as long as it maintains ownership of at least 10% of the Company’s issued and outstanding shares. Fasken Martineau advised Greenstone with a team consisting of Al Gourley, Jodi Katz and Vanessa McMinn.