Knappschaftskassen : Northland Resources
|MAY 11, 2006 - 09:00 ET|
|Northland Resources Registers on the Norwegian OTC List|
|VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 11, 2006) - Mr. Buck Morrow, President of Northland Resources Inc. ("Northland") (TSX VENTURE:NAU) is pleased to announce that, effective today, the Company's shares are registered on the Norwegian OTC list ("NOTC") and have commenced trading under the symbol NAUR.|
Completion of the OTC registration is the first step towards allowing Northland's European shareholders to actively participate in the future growth of the Company. Pareto Private Equity ("Pareto") completed and submitted the Company's application to the NOTC.
The Company recently raised approximately C$20.2-million via the sale of 15-million shares. Pareto acted as the lead agent in selling the offering. Together with the financing, tomorrow's OTC listing completes the first phase of the Company's corporate development strategy outlined in its March 20, 2006 press release. A full dual listing on the Oslo Stock Exchange is planned for the third quarter of 2006.
Northland is a well financed Vancouver based junior focused on exploring and developing quality iron and gold projects in Sweden and Finland. The Company aims to establish itself as a mining company with iron, copper and gold production on the doorstep of the major industrial manufacturing regions of Europe.
The Company's shares trade on the TSX Venture Exchange under the symbol NAU (TSX VENTURE:NAU) and on the Frankfurt Exchange in Germany under the symbol NBS. Northland has a total of 50,400,043 shares issued and 57,012,703 fully diluted.
The Company also announces that it has granted incentive stock options to its directors, officers and employees to purchase up to an aggregate of 1,100,000 shares exercisable at a price of $1.55 per share for five years.
ON BEHALF OF THE BOARD
NORTHLAND RESOURCES INC.
The TSX Venture Exchange has not reviewed and does not take responsibility for the accuracy of this release.