Business
Northern Shield Completes Private Placement for Gross Proceeds of $2.5 million
Jun. 29, 2011 (Canada NewsWire Group) -- OTTAWA, June 29, 2011 /CNW/ - Northern Shield Resour...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n Jun. 29, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nOTTAWA, June 29, 2011 /CNW/ - Northern Shield Resources Inc. ("Northern\n Shield") [TSX-V: NRN] is pleased to announce that it has completed a\n non-brokered private placement (the "Private Placement") for gross\n proceeds of approximately $2.5 million by issuing 4,900,000 common\n shares at $0.25 per common share and 4,026,704 common shares on a\n flow-through basis at $0.33 per common flow-through share. No warrants\n were issued. A total of $37,500 in finders' fees were paid in\n connection with the Private Placement. The Private Placement is subject\n to the approval of the TSX Venture Exchange.\n\n\nThe proceeds from the Private Placement will be used for exploration on\n Northern Shield's Highbank Lake and Wabassi properties, other\n properties and for general corporate purposes.\n\n\nThe principal participant in the financing was Anglo Pacific PLC of\n London, England.\n\n\nThe securities issued under the Private Placement are subject to a hold\n period of four months and a day from the date of their issuance.\n\n\nNorthern Shield is an innovative, results-driven Canadian company\n focused on Platinum Group Element (PGE) exploration in Canada and\n copper-zinc-silver exploration on its Wabassi properties in northern\n Ontario. Its mission is to create a successful mineral exploration\n company through technical excellence and efficient management, where\n success is measured by the identi...