Northern Financial closes private placement financing

On April 28, 2010, Northern Financial Corporation (TSX: NFC) announced that it had closed the second tranche of its previously announced brokered private placement financing and gypsy swap by issuing an additional 364,710 units. Combined with the first closing on March 30, 2010, Northern has issued an aggregate of 1,602,342 Units for gross proceeds of $528,772. Each Unit is comprised of one common share of Northern and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of Northern at a price of $0.45 until April 27, 2012. Northern was advised in this transaction by Fasken Martineau with a team that included Sean Stevens, Brad Freelan and Paul Braczek.