Business
Shield Gold Closes Flow-Through Private Placement
Mar. 31, 2011 (Newsfile Corp.) -- Toronto, Ontario--(March 31, 2011) - Shield Gold (TSXV:SHG...
About this update from Eloro Resources Ltd.
[{"type":"text","content":"\nShield Gold Closes Flow-Through Private Placement\n\n Mar. 31, 2011 (Newsfile Corp.) -- Toronto, Ontario--(March 31, 2011) - Shield Gold (TSXV:SHG) Inc. is pleased to announce the closing on March 30, 2011, of a non-brokered flow-through private placement with the MineralFields Group, consisting of 3,000,000 Units at $0.10 per Unit, for gross proceeds of $300,000. Each Unit consists of one flow-through common share and one-half of one non-flow-through share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of Shield Gold at a price of $0.15 for a period of 24 months from the date of closing. The proceeds of the financing will be used for the initial phase of Shield Gold's 2011 exploration program on the Summit-Gaber and the La Grande Nord properties. The design of the program will be based on the priority targets identified in the February 2011 report \"B-horizon Pedogeochemical Survey, Summit-Gaber Project, James Bay, Québec\", by Rémi Charbonneau of Inlandsis Consultants. Dr. Charbonneau is a specialist in the planning and interpretation of till and B-horizon surveys in the James Bay area. Detailed information on the properties is available on the Company's website at http://www.shieldgold.com . About Shield Gold Inc.: Shield Gold is a junior exploration company whose mission is the discovery and development of high quality precious and base metal resources. The Company has entered into option and joint venture agreements with Eloro Resources (TSXV:ELO) Inc. on the Summit-Gaber property and with Virginia Mines Inc. (TSX:VGQ) (OOTC:VGMNF) on the La Grande Nord property. The contiguous properties are located in the La Grande Greenstone Belt in the James Bay region of Québec. About MineralFields, Pathway and First Canadian Securities ®: MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver, Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products (NYSE:HZK) and mutual funds (including the Pathway Multi Series Fund...