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Northern Shield Closes Private Placement for $500,000
Northern Shield Closes Private Placement for $500,000 Canada NewsWire ...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n \n \n \n Northern Shield Closes Private Placement for $500,000\n \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 Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n OTTAWA, ON\n \n ,\n \n Dec. 31, 2020\n \n /CNW/ -\n \n \n Northern Shield Resources Inc.\n \n \n (\"\n \n Northern Shield\n \n \" or the \"\n \n Company\n \n \") (TSXV: NRN) is pleased to announce that it has closed a multi-faceted, non-brokered private placement financing of 5,825,000 common shares on a non-flow-through and flow-through basis for total proceeds of\n \n $500,000\n \n (the \"\n \n Offering\n \n \").\n \n \n The Offering was comprised of i) 4,125,000 units (\"\n \n Units\n \n \") at\n \n $0.08\n \n per unit for aggregate gross proceeds of\n \n $330,000\n \n with each Unit consisting of one common share in the capital of the Company (a \"\n \n Common Share\n \n \") and one-half of one Common Share purchase warrant (a \"Warrant\"); and ii) 1,700,000 Common Shares issued on a flow-through basis within the meaning of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (each a \"\n \n Flow-Through Share\n \n \") at\n \n $0.10\n \n per Flow-Through Share, for aggregate gross proceeds of\n \n $170,000\n \n .  Each whole Warrant is exercisable for one Common Share at a price of\n \n $0.11\n \n per share within 24 months of the closing.  Proceeds from the offering will be used primarily for working capital purposes and to incur eligible exploration expenses at the Shot Rock and Root & Cellar Properties.\n \n \n Crescat Capital LLP or its affiliates subscribed for 3,000,000 Units of the offering. Crescat is a global macro asset management firm headquartered in\n \n Denver, Colorado\n \n . Crescat maintains a conditional right to participate in equity financings of Northern so as to maintain its pro-rata ownership of the securities of the Company.\n \n \n An insider of the Company acquired 200,000 Flow-Through Shares...