Northern Shield Resources Inc. [TSX-V:NRN] is pleased to announce that it has completed a non-brokered private placement financing of 6,454,600 common shares on a flow-through basis within the meaning of the Income Tax Act (Canada) at a price of $0.17 per Flow-Through Share for aggregate gross proceeds of approximately $1,097,282.
All proceeds from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses at the Company’s Quebec exploration projects including drilling and exploration at the Séquoi and Sé2 properties. All of the securities sold pursuant to the Offering are subject to a hold period which will expire on March 30, 2017 in accordance with the rules and policies of the Toronto Stock Exchange and applicable Canadian securities laws. The Offering remains subject to the final approval of the Toronto Stock Exchange.
Red Cloud Klondike Strike Inc. acted as an agent with respect to the Offering, pursuant to which it received 7% cash commission and 7% broker warrants on orders reflected in the non-brokered placement. Red Cloud KS. is a ‘new concept’ capital markets advisory firm dedicated solely to the mining sector. It uses its global network of capital markets specialists and extensive experience in the many facets of the business to help companies identify alternative sources of capital and quality actionable growth/divestiture opportunities, and to generate and maintain important relationships with key investors.
Northern Shield Resources Inc. is a Canadian-based company focused on exploring for platinum group element and nickel-copper-PGE deposits. It is known as a leader in grass roots exploration for Ni-Cu-PGEs and the understanding of magmatic systems as it applies to exploration.
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