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Northern Shield Completes Financing for Gross Proceeds of $300,000, Mobilizes Field Crew Back to Huckleberry Cu-(Ni-PGE) Discovery
Northern Shield Completes Financing for Gross Proceeds of $300,000, Mobilizes Field Crew B...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n\nNorthern Shield Completes Financing for Gross Proceeds of $300,000, Mobilizes Field Crew Back to Huckleberry Cu-(Ni-PGE) Discovery\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\n\n\n\n\n\nNorthern Shield Completes Financing for Gross Proceeds of $300,000, Mobilizes Field Crew Back to Huckleberry Cu-(Ni-PGE) Discovery\nCanada NewsWire\nOTTAWA, Sept. 23, 2015\n\n\n\nOTTAWA, Sept. 23, 2015 /CNW/ - Northern Shield Resources Inc. (\"Northern Shield\" or the \"Company\") [TSX-V: NRN] is pleased to announce that it has completed a non-brokered private placement (the \"Private Placement\") of  6,000,000 units (\"Units\") at a price of $0.05 per Unit for aggregate gross proceeds of $300,000. Each Unit is comprised of one common share in the capital of Northern Shield (a \"Common Share\") issuable on a \"flow-through\" basis pursuant to the Income Tax Act (Canada) and one half of one Common Share purchase warrant (a \"Warrant\"). Each whole warrant is exercisable for one Common Share at a price of $0.075 per share until September 21, 2017. The Common Shares and Warrants underlying the Units are subject to a four month hold period from the date of issuance and the Private Placement remains subject to the final approval of the TSX Venture Exchange. \n\nA cash finder's fee of $18,000 was paid, and 18,000 Warrants were issued, to certain finder's in connection with the Private Placement. Each such Warrant is exercisable to acquire one Common Share at a price of C$0.075 per share until September 21, 2017.\n\nProceeds from the Private Placement will be used to incur eligible Canadian Exploration Expenditures and Flow-through Mining Expenditures to advance the Company's Huckleberry Cu-(Ni-PGE) project (\"Huckleberry\") in the Labrador Trough region of northern Quebec. Northern Shield discovered significant Cu-(Ni-PGE) mineralization at Huckleberry earlier this year where the assay results of 22 samples collected from the property averaged 1.4% Cu, 0.14% Ni and 1.4 g/t PGE+Au with a high of 10.6% Cu and 16.9 g/t PGE+Au. A field crew will be immediately mobilized to Huckleberry an...