Business
Northcliff announces $870,000 private placement financing
Northcliff announces $870,000 private placement financing Canada NewsWire VANCOU...
About this update from Northcliff Resources Ltd.
[{"type":"text","content":"\n\n\n\nNorthcliff announces $870,000 private placement financing\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\n\nCanada NewsWire\nVANCOUVER, Jan. 29, 2020\n\n\n\nVANCOUVER, Jan. 29, 2020 /CNW/ - Northcliff Resources Ltd. (\"Northcliff\" or the \"Company\") (TSX: NCF) is pleased to announce that it has arranged a private placement of 17,375,600 Common Shares at a price of $0.05 per Common Share with the Todd Corporation (\"Todd\") for gross proceeds to the Company of  $870,000.\nTodd currently owns a total of 61,828,998 Common Shares in the capital of Northcliff, and after its participation in the private placement financing will hold 79,204,598 Common Shares or a 41% interest in the Company.  \nThe Common Shares issued are subject to applicable resale restrictions, including a four month hold period under Canadian securities rules.  The private placement is subject to execution of definitive agreements with investors and customary closing conditions including final Toronto Stock Exchange approval.  \nProceeds of the Follow-on Financing will be used to fund the Company's share of expenditures related to the Sisson Project and for working capital and general corporate purposes.\nAbout Northcliff Resources Ltd.\nNorthcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the 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. \nAdditional information on Northcliff is available on the website at www.northcliffresources.com.  \nChris ZahovskisPresident & CEO\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 the in-progress Follow-on Financing, or other events that the Company expects, are forward-looking statements. Although the Company be...