On February 17, 2021, Siskinds LLP filed a proposed securities class action in the Supreme Court of British Columbia against Northern Dynasty Minerals Ltd. (“Northern Dynasty”) (TSE: NDM; NYSE: NAK), its underwriters for a prospectus offering, Cantor Fitzgerald Canada Corporation, Canaccord Genuity Corp., BMO Nesbitt Burns Inc., Paradigm Capital Inc., TD Securities Inc., and Velocity Trade Capital, and its current or former directors and/or officers, Ronald W. Thiessen, Thomas Collier, Mark Peters, David Laing and Christian Milau (“Action”).

Subject to the exclusion of certain defined “Excluded Persons”, the proposed class in the Action comprises (collectively, “Class Members”):

• all persons and entities, wherever they may reside or be domiciled, who acquired Northern Dynasty securities, including common shares and Warrants, on the secondary market between June 25, 2020 and November 25, 2020 at 2 pm EST, and held some or all those securities as of the start of trading on August 24, 2020 and/or November 25, 2020 at 2 pm EST;

• all persons and entities, wherever they may reside or be domiciled, who acquired common shares in Northern Dynasty’s bought deal public offering of 24,150,000 common shares at a price of US$1.46 per common share that closed on or around July 15, 2020, and held some or all those common shares as of the start of trading on August 24, 2020 and/or November 25, 2020 at 2 pm EST; and

• all persons and entities, wherever they may reside or be domiciled, who acquired common shares in Northern Dynasty’s private placement of 5,907,534 common shares at a price of US$1.46 per common share that closed on or around July 30, 2020 and August 6, 2020, and held some or all those common shares as of the start of trading on August 24, 2020 and/or November 25, 2020 at 2 pm EST.

The action arises out of alleged misrepresentations in Northern Dynasty’s disclosure documents pertaining to the permitting process for the Pebble Project, a proposed mining project in Alaska in which Northern Dynasty holds a 100% interest through its wholly owned subsidiary, Pebble Partnership. It is alleged that the Class Members suffered damage as a result of the alleged misrepresentations and other misconduct.

The Plaintiff is seeking compensation for the losses suffered by the Class Members. The Plaintiff alleges that the Defendants are liable for those losses.

If you would like to be updated on developments in the Action, please click “Join” above and complete the form. Your information will be held in strict confidence. By completing the form, you are not retaining Siskinds LLP, nor do you incur any obligations in connection with the Action.

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