Northern Hemisphere Closes $170,000 Private Placement

Northern Hemisphere Development Corp. has closed a $170,000 private placement, as originally announced on August 13, 2008.

This private placement consisted of the sale of 1,700,000 units at a price of $0.10 per unit, each unit consisting of one common share and one-half (1/2) of a share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.15 until September 5, 2010.

All of the securities issued pursuant to this private placement, including any common shares that may be issued pursuant to the exercise of the share purchase warrants, are subject to a hold period until January 6, 2009.