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Labrador Gold Announces Acquisition of Subscription Receipts of Northern Shield
TORONTO, Dec. 31, 2025 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | OTCQB: NKOSF | FNR: ...
About this update from Labrador Gold Corp
[{"type":"text","content":"Labrador Gold Announces Acquisition of Subscription Receipts of Northern Shield\nTORONTO, Dec. 31, 2025 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | OTCQB: NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that, further to its press release of December 8, 2025 (the “COB Press Release”), it has acquired 16,666,667 Subscription Receipts (the “Northern Shield Financing”) of Northern Shield Resources Inc. (“Northern Shield”) at $0.06 per Subscription Receipt for an investment of $1,000,000.02 (the “Initial Investment Funds”) pursuant to a subscription agreement dated December 5, 2025. The Initial Investment Funds are held in escrow and the release of the funds to Northern Shield will be conditional upon receipt of LabGold shareholder and regulatory approval to its proposed change of business from a pure exploration company to an exploration and investment issuer (the “Escrow Release Conditions”). This allows LabGold to maintain its exploration activities while also being able to make equity investments in other resource companies (the “Change of Business”) as set out in the COB Press Release. Each Subscription Receipt will entitle LabGold to receive, without any further action or any additional consideration, and subject to adjustment, one Unit of Northern Shield (a “Unit”) upon satisfaction of the Escrow Release Conditions (the “Escrow Release Date”). Each Unit consists of one (1) common share of Northern Shield (a \"Common Share\") and one (1) common share purchase warrant (each a \"Warrant\"). Each Warrant entitles the holder to purchase one additional Common Share (a \"Warrant Share\") at a price of $0.10 per Warrant Share for a period of 36 months from the Escrow Release Date. As additional consideration for LabGold in respect of the Northern Shield Financing, for as long as LabGold retains a 10% equity interest in Northern Shield, LabGold shall have the following rights: (i) a pre-emptive right to participate in future financings of Northern Shield to maintain its equity interest in Northern Shield following the issuance of the Units to LabGold and (ii) the right to appoint a technical advisor to help guide exploration activities carried out on the properties o...