Business
Golden Shield Resources Grants Agent's Option to Brokered Private Placement
VANCOUVER, BC, March 29, 2023 /CNW/ - Golden Shield Resources Inc. (CSE: GSRI) (OTCQB: GSRFF) (Frankfurt: 4LE0) ("Golden Shield" or the "Company") is pleased to
About this update from Golden Shield Resources Inc.
[{"type":"text","content":" VANCOUVER, BC, March 29, 2023 /CNW/ - Golden Shield Resources Inc. (CSE: GSRI) (OTCQB: GSRFF) (Frankfurt: 4LE0) (\"Golden Shield\" or the \"Company\") is pleased to announce that in connection with the proposed private placement (the \"Offering\") announced on March 22, 2023, and the upsize and repricing of the Offering announced on March 29, 2023, the Company has entered into a second amending agreement with Canaccord Genuity Corp. (the \"Agent\"), to grant the Agent an option (the \"Agent's Option\") to offer up to an additional 3,000,000 units (the \"Units\") at C$0.20 per Unit (the \"Offering Price\"). The Agent's Option is exercisable until 48 hours prior to the Closing Date (as defined below). Each Unit will consist of one common share in the capital of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company (a \"Warrant Share\") for a period of 24 months following the Closing Date of the Offering at an exercise price of C$0.30 for the 12 month period following the Closing Date and thereafter the exercise price will increase to C$0.40 for the remaining term of the Warrants. The net proceeds of the Offering will be used for exploration of the Company's flagship Marudi property, including diamond drilling, aircore drilling, trenching, pitting, hand augering, mapping and sampling, and for general working capital of the Company. The Units will be offered for sale by way of private placement pursuant to applicable exemptions from the prospectus requirements in all of the Provinces of Canada. The Agent will also be entitled to offer the Units for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction. The Offering is scheduled to close on or about April 12, 2023 (the \"Closing Date\") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange (the \"CSE\")...