TSX-V Symbol: NLFrankfurt Symbol: N3E VANCOUVER, Nov. 15, 2016 /CNW/ - Northern Lion Gold Corp. (the " Company") announces a non-brokered private placement of up to 5,000,000 units (the " Units") of the Company at a price of $0.10 per Unit for aggregate proceeds of up to $500,000 (the " Offering"). Each Unit shall be comprised of one common share of the Company (a " Common Share") and one Common Share purchase warrant (a " Unit Warrant") entitling the holder to subscribe for one additional Common Share at a price of $0.20 per Common Share until the date that is 18 months from the date of issuance. For the Offering, the Company may pay a finder's fee comprised of a cash commission of up to 7% of the gross proceeds of the Offering and finder warrants (the " Finder Warrants") of up to 7% of the number of Units sold pursuant to the Offering. Each Finder Warrant shall be exercisable for one Common Share at a price of $0.20 per Common Share until the date that is up to 18 months from closing of the Offering. The proceeds of the Offering are expected to be used for corporate overhead purposes and to establish a reserve for potential acquisition opportunities. The Offering is subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory four-month hold period.