Business
GOLDEN SHIELD ANNOUNCES CLOSE OF OVER-SUBSCRIBED PRIVATE PLACEMENT
Golden Shield Resources Inc. (CSE: GSRI) (FRA: 4LE0) (the "Company" or "Golden Shield") is pleased to announce that it has closed its over-subscribed financing (the "Financing") through the issuance of 6,596,333 common shares (the "Shares") of the Company at a price of $0.15 per Share, for gross proceeds of $989,450. No finder's fees were paid on the Financing.
About this update from Golden Shield Resources Inc.
[{"type":"text","content":"/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/","length":87,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, BC, June 27, 2025 /CNW/ - Golden Shield Resources Inc. (CSE: GSRI) (FRA: 4LE0) (the "Company" or "Golden Shield") is pleased to announce that it has closed its over-subscribed financing (the "Financing") through the issuance of 6,596,333 common shares (the "Shares") of the Company at a price of $0.15 per Share, for gross proceeds of $989,450. No finder's fees were paid on the Financing.","length":444,"tagName":"p"},{"type":"image","alt":"GSRI Logo (CNW Group/Golden Shield Resources Inc.)","displaySize":"","headline":null,"caption":"GSRI Logo (CNW Group/Golden Shield Resources Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":179,"url":"https://media.zenfs.com/en/cnwgroup.com/bfb3a709cd228c74bac06a83c91c513d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kUFi9B1Zrku9iJroXmp6Lg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMxNTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/bfb3a709cd228c74bac06a83c91c513d","width":400,"height":179}},"href":"https://mma.prnewswire.com/media/2720448/Golden_Shield_Resources_Inc__GOLDEN_SHIELD_ANNOUNCES_CLOSE_OF_OV.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Company intends to use the net proceeds from the Offering corporate and general working capital purposes, as well as for exploration expenditures at the Company's Marudi Mountain Property.","length":196,"tagName":"p"},{"type":"text","content":"Securities issued under the Offering are subject to a statutory hold period which will expire four months and one day from the date of closing of the Offering.","length":159,"tagName":"p"},{"type":"text","content":"In connection with the Financing, insiders of the Company subscribed for 1,653,333 Shares and a former director subscribed for 24,000 Shares in a shares for debt exchange for an aggregate total of $248,000 of debt fulfilled.","length":224,"tagName":"p"},{"type":"text","content":"Each subscription under the Financing by an insider is considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101&...