NS

CALGARY, Dec. 21, 2011 /CNW/ - Northern Spirit Resources Inc. ("Northern Spirit" or the "Corporation") is pleased to announce that, further to its news releases dated September 19, 2011 and December 16, 2011, the TSX Venture Exchange (the "TSXV") has granted final acceptance and issued its Final Exchange Bulletin for the Corporation's acquisition (the "Acquisition") of all of the issued and outstanding common shares of Cascade Resources Inc.  Following completion of the Acquisition, there are 237,498,056 common shares of the Corporation ("Common Shares") issued and outstanding.  Of the 237,498,056 Common Shares, 97,224,879 Common Shares are subject to a Value Security Escrow Agreement pursuant to the policies of the TSXV, 600,000 Common Shares are subject to a Capital Pool Corporation Escrow Agreement related to the Corporation's qualifying transaction carried out in January, 2009 and 2,700,000 Common Shares are subject to a one year TSXV hold period (the "TSXV Hold Period").   The TSXV Hold Period provides for releases of 20% of the applicable Common Shares every 3 months with the initial release occurring on the issuance of the Final Exchange Bulletin. Trading in the Common Shares is to re-commence at the opening of markets on Thursday, December 22, 2011 under the symbol "NS". For further details on the Acquisition and related matters, please see the Corporation's filing statement dated November 29, 2011 available for review at www.sedar.com under the Corporation's profile. Cautionary Statements The TSXV has in no way passed upon the merits of the Acquisition and has neither approved or disapproved the contents of this press release. Not for distribution to U.S. Newswire Services or for dissemination in the United States.  Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws. Except for statements of historical fact, this news release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.   These forward-looking statements sometimes include words to the effect that management of Northern Spirit believes or expects a stated condition or result.  All estimates and statements that describe Northern Spirit's future plans are forward-look statements.  Forward-looking statements, such as the date the Common Shares are expected to resume trading on the TSXV, are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond Northern Spirit's control. Northern Spirit undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in Northern Spirit's filings with Canadian securities regulators, which filings are available at www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release. Northern Spirit Resources Inc. CONTACT: Northern Spirit Resources Inc.850, 396 - 11th Avenue SWCalgary, Alberta T2R 0C5Fax: (403) 269-1715Kevin R. Baker Q.C., President & Chief Executive OfficerDir: (403) 476-7010John H. Cassels, Vice President Finance, Chief Financial Officer andSecretaryDir: (403) 476-7008

Copyright