Northern Financial Announces Closing of Second Tranche of Private Placement

    




 NORTHERN FINANCIAL CORPORATION   

 TORONTO, Aug. 1, 2012 /CNW/ - Northern Financial Corporation  ("Northern" or the "Company") today announced that the Company has  closed a second tranche of its previously announced non-brokered  private placement.  The second tranche closing consists of 2,000,000  common shares at a price of $0.05 per common share for gross proceeds  of $100,000. The Company anticipates closing an additional tranche of  $100,000 prior to August 15, 2012. 

 Combined with the first closing under the private placement on June 29,  2012, of 4,000,000 common shares for gross proceeds of $200,000, the  Company has raised aggregate gross proceeds of $300,000 through the  issuance of a total of 6,000,000 common shares. 

 In accordance with applicable securities legislation, the common shares  issued will be subject to a hold period of four months plus one day  from the date of closing, expiring December 1, 2012. 

 The Company intends to use the proceeds of the private placement for its  general working capital and investment in Northern Securities Inc, the  Company's wholly-owned subsidiary. 

 About Northern Financial Corporation 

 Northern Financial Corporation wholly owns Northern Securities Inc., a  full service investment dealer that provides financial advisory  services to retail and institutional clients and investment banking  services to small capitalization companies. 

 The TSX Venture Exchange does not accept responsibility for the adequacy  or accuracy of this news release. This press release may contain  forward-looking statements with respect to the Company, its operations,  strategy, financial performance and condition. These statements  generally can be identified by use of forward looking words such as  "may", "will", "expect", "estimate", "anticipate", intends", "believe"  or "continue" or the negative thereof or similar variations. The actual  results and performance of the Company discussed herein could differ  materially from those expressed or implied by such statements. Such  statements are qualified in their entirety by the inherent risks and  uncertainties surrounding future expectations. Important factors that  could cause actual results to differ materially from expectations  include, among other things, general economic and market factors,  competition, changes in government regulations and the factors  described under "Risk Factors" in the Management's Discussion and  Analysis and Filing Statement of the Company which are available at  www.sedar.com. The cautionary statements qualify all forward-looking  statements attributable to the Company and persons acting on their  behalf. Unless otherwise stated, all forward-looking statements speak  only as of the date of this press release and the Company has no  obligation to update such statements. 



Northern Financial Corporation


CONTACT:  Vic AlboiniChairman and CEO(416) 644-8110 


    

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