Business
Northern Shield Completes Non-Brokered Private Placement of Subscription Receipts
Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce the closing of its previously announced (see press...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/","length":99,"tagName":"p","attribs":{}},{"type":"text","content":"OTTAWA, ON, Dec. 31, 2025 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce the closing of its previously announced (see press release dated December 8, 2025) strategic non-brokered private placement with Labrador Gold Corp. (TSXV: LAB) ("LabGold"), whereby the Company issued an aggregate of 16,666,667 subscription receipts ("Subscription Receipts") to LabGold at a price of $0.06 per Subscription Receipt for aggregate gross proceeds of $1,000,000 (the "Offering").","length":589,"tagName":"p"},{"type":"text","content":"The Offering","length":12,"tagName":"p"},{"type":"text","content":"The aggregate gross proceeds of the Offering (the "Escrowed Funds") are held in escrow pursuant to the terms of a subscription receipt escrow agreement between the Company and LabGold, and the release of the Escrowed Funds is conditional upon, among others, receipt of LabGold shareholder and regulatory approval with respect to LabGold's change of business (the "Escrow Release Conditions").","length":416,"tagName":"p"},{"type":"text","content":"Under the Offering, each Subscription Receipt entitles LabGold to receive, without any further action or any additional consideration, and subject to adjustment, one (1) unit of the Company (a "Unit") upon satisfaction of the Escrow Release Conditions (the "Escrow Release Date"). Each Unit consists of one (1) common share of Northern Shield (a "Common Share") and one (1) common share purchase warrant (each a "Warrant"). Each Warrant entitles LabGold to purchase one additional Common Share (a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 36 months from the Escrow Release Date.","length":657,"tagName":"p"},{"type":"text","content":"As additional consideration for LabGold in respect of the Offering, for as long as LabGold retains a 10% equity interest in the Company, LabGold shall have the following rights: (i) a pre-emptive right to participate in future financings of Northern Shield to maintain its equity interest in the Company fo...