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Northcliff Announces $500,000 Loan
Northcliff Announces $500,000 Loan Northcliff Announces $500,000 Loan Canada New...
About this update from Northcliff Resources Ltd.
[{"type":"text","content":"\n\n\n\nNorthcliff Announces $500,000 Loan\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNorthcliff Announces $500,000 Loan\nCanada NewsWire\nFREDERICTON, Jan. 14, 2016\n\n\n\nFREDERICTON, Jan. 14, 2016 /CNW/ - Northcliff Resources Ltd. (\"Northcliff\" or the \"Company\") (TSX: NCF) announces that it has entered into a $500,000 Loan Agreement (the \"Loan\") with a non-arm's length director of the Company (the \"Lender\").\n\nThe Loan is unsecured, will bear interest at a rate of 10% per annum and is repayable after 12 months or earlier on the occurrence of a default. In connection with the Loan, Northcliff will issue to the Lender a loan bonus in the form of 2,000,000 warrants (the \"Bonus Warrants\"), each entitling the holder to acquire one common share of Northcliff for two years at a price of $0.09 per share. The Bonus Warrants will be subject to a four month hold period, commencing on the date of issuance. The Company continues to seek additional financing. The Loan and Bonus Warrants are subject to acceptance by TSX.\n\nThe Loan will be used by the Company for working capital. \n\n\nAbout Northcliff Resources Ltd.\n\nNorthcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. \n\nAdditional information on Northcliff and the Sisson Project are available on the websites at www.northcliffresources.com and www.sissonproject.com, respectively.  Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114.\n\nChris ZahovskisPresident and CEO\n\n\nThis release includes certain statements that may be deemed \"forward-looking statements\". All statements in this release, other than statements of historical facts, that address permitting, exploration drilling, exploitation activities and events o...