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Northern Shield Announces Private Placement Financing
Northern Shield Announces Private Placement Financing Northern Shield Announces Pr...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n\nNorthern Shield Announces 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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nNorthern Shield Announces Private Placement Financing\nCanada NewsWire\nOTTAWA, March 17, 2016\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./\n\nTSX Venture Exchange - NRN\n\n\n\nOTTAWA, March 17, 2016 /CNW/ - Northern Shield Resources Inc. (\"Northern\" or \"the Company\") is pleased to announce that Company has arranged a non-brokered private placement offering for aggregate gross proceeds of $300,000 though the offering may be increased to a maximum of $500,000 (the \"Offering\"). The securities will be offered for sale pursuant to applicable exemptions in certain provinces of Canada.\n\nThe units will be offered at a price of $0.03 per unit. Each unit will consist of one common share (\"Common Share\") of Northern and one-half of one Common Share purchase warrant (a \"Warrant\"). Each whole Warrant will be exercisable for one Common Share at a price of $0.05 per share for a period of 12 months from the date of closing of the Offering, provided that should the Common Shares trade on the TSX Venture Exchange (the \"TSXV\") for 20 consecutive trading days at a price equal to or more than $0.10, the Warrants will expire 30 days later. The Company has been granted a discretionary waiver from the $0.05 minimum pricing requirement by the TSXV pursuant to the TSXV Bulletin dated April 7, 2014. A finder's fee may be paid by the Company in connection with the Offering in accordance with the policies of the TSXV. \n\nNorthern Shield discovered extensive Cu-Ni-PGE mineralization at Huckleberry last year. Of the 147 samples collected from Huckleberry, 97 assayed greater than 0.3% with an average grade of 1.0% Cu, 0.2% Ni and 0.72 g/t PGE+Au. The copper mineralization found on surface at Huckleberry is indicative of a segregated deposit whereby the copper has separated from the nickel. The discovery of a xenolith hosting nickel-bea...