Business
Northern Shield Announces Upsize to Previously Announced Private Placement
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES./...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.\n NEWSWIRE SERVICES./\n\n\nOTTAWA, May 3, 2013 /CNW/ - Northern Shield Resources Inc. (\"Northern\n Shield\") (TSXV: NRN) is pleased to announce that it intends to increase\n the size of its previously announced brokered private placement\n financing from C$1.5 million to C$2.0million (the \"Brokered Offering\"),\n for total gross proceeds of C$2.7 million including the previously\n announce C$700,000 non-brokered private placement (together with the\n Brokered Offering, the \"Offerings\").  Macquarie Capital Markets Canada\n Ltd., as sole agent (the \"Agent\"), is conducting the Offering on a\n reasonable commercial efforts basis on the same terms as announced on\n April 22, 2013.\n\n\nThe net proceeds from the Offerings will be used to fund further\n exploration and development activities at Northern Shield's Ikertoq\n property in Greenland where Northern Shield has an option to earn a 50%\n interest, exploration at its 49% owned Wabassi property in northern\n Ontario and for general corporate purposes.\n\n\nIt is expected that the closing of the Offerings will occur on or about\n May 9, 2013 (the \"Closing Date\") subject to the satisfaction of certain\n conditions, including the approval of the TSX Venture Exchange.\n\n\nNorthern Shield is an innovative, results-driven Canadian company\n focused on Platinum Group Element (PGE) and nickel-copper-PGE\n exploration in Canada and Greenland and, copper-zinc-silver exploration\n on its Wabassi and Storm properties in northern Ontario. Its mission is\n to create a successful mineral exploration company through technical\n excellence and efficient management, where success is measured by the\n identification and development of high-quality mineral exploration\n projects, which may ultimately be optioned, sold or developed for\n maximum return on investment. For further information on Northern\n Shield and its properties, please visit our website.\n\n\nThis press release is not an offer to sell or the solicitation of an\n offer to buy the securities, nor shall there be any sale of the\n securities in any jurisdiction in which such offer, solicitation or\n sale would be unlawful prior to qualification or registration under the\n securities laws of such jurisdiction.  The securities being offe...