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Northern Shield Closes $300,000 Private Placement with Mr. Rob McEwen
Northern Shield Closes $300,000 Private Placement with Mr. Rob McEwen Canada NewsW...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n\nNorthern Shield Closes $300,000 Private Placement with Mr. Rob McEwen\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.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Jan. 28, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n OTTAWA, Jan. 28, 2020 /CNW/ - Northern Shield Resources Inc. (\"Northern Shield\" or the \"Company\") (TSXV: NRN) is pleased to announce that it has closed a non-brokered private placement financing for proceeds of $300,000 (the \"Private Placement\").  The Private Placement consisted of 3,333,333 units (\"Units\") at $0.09 per Unit with each Unit comprised of one common share in the capital of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (a \"Warrant\").  Each whole Warrant is exercisable for one Common Share at a price of $0.18 per share for a period of 24 months from closing.  Proceeds from the Offering will be used for working capital purposes and exploration activities at the Shot Rock and Root & Cellar properties.\n\"We are very pleased that our eastern Canadian low sulphidation, epithermal gold projects caught the attention of Mr. McEwen. We are in the process of mobilizing a drill to Shot Rock in Nova Scotia and should expect drill results by Q2/20. In addition, airborne geophysics is underway at Root & Cellar in Newfoundland with the intent of getting this property to the drilling phase by the second half of 2020.\"\nNorthern Shield President and CEO, Ian Bliss  \nClosing of the Private Placement is subject to final approval of the TSX Venture Exchange. The Company paid an aggregate of $15,000 in finders fees and issued 166, 667 finders Warrants in connection with the Private Placement. Securities issued under the Private Placement are subject to restrictions on resale for a period of four months from the date of closing.\nAbout NorthernNorthern Shield Resources Inc. is a Canadian-based company focused on generating high-q...