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Northern Shield Closes Last Tranche of Private Placement
Northern Shield Closes Last Tranche of Private Placement Canada NewsWire OTTAWA,...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n\nNorthern Shield Closes Last Tranche of Private Placement\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\n\nCanada NewsWire\nOTTAWA, March 4, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n OTTAWA, March 4, 2019 /CNW/ - Northern Shield Resources Inc. (\"Northern Shield\" or the \"Company\") (TSXV: NRN) is pleased to announce that it has closed the final tranche of a financing under the terms previously announced (the \"Offering\"). This tranche consisted of 4,133,333 units at $0.055 per unit (each a \"Unit\") for aggregate gross proceeds of $227,333.  Each Unit consists 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 $0.10 per share within 24 months of the closing of the Offering.  The warrants are subject to an acceleration clause whereby should the Common Shares close on the TSX Venture Exchange (the \"TSXV\") for 20 consecutive trading days at a price equal to or more than $0.25, the Warrants will expire 5 days thereafter. The Offering is subject to final approval of the TSX Venture Exchange.  The Common Shares and Warrants issued pursuant to the Offering are subject to a statutory hold period of four months following closing.  Proceeds of the Offering will be used for working capital and for further exploration of the Company's properties.\nNorthern Shield Resources Inc. is a Canadian-based company focused on generating high-quality exploration programs with experience in many geological terranes. It is known as a leader in executing grass roots exploration program for Ni-Cu-PGEs and utilizing expertise and innovation toward working on other deposit types. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada and elsewhere.\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that te...