Northern Dynasty Minerals Ltd. announced a non-brokered private placement of up to 8,500,000 units of the company at a price of CAD 0.40 per unit for the gross proceeds of up to CAD 3,400,000 on December 11, 2023. Each unit shall consist of one common share of the company and one transferable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company for a period of two years from the date of issue at a price of CAD 0.45 per warrant share.

The transaction is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals including, without limitation, the approval of the TSX Exchange.