Business
Northern Shield Concludes Private Placement
Northern Shield Concludes Private Placement Canada NewsWire /NOT FOR DISTRIBUTI...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n \n \n \n Northern Shield Concludes Private Placement\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 /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 OTTAWA, ON\n \n \n ,\n \n \n May 23, 2023\n \n \n /CNW/ - Northern Shield Resources Inc. (\"\n \n Northern Shield\n \n \" or the \"\n \n Company\n \n \") (TSXV: NRN) announces that, due to time restrictions, it has concluded its non-brokered, private placement (the \"\n \n Offering\n \n \").\n \n \n As announced in its press release of\n \n April 7, 2023\n \n , the Offering consisted of the issuance of: i) 1,500,000 units (\"\n \n Units\n \n \") at\n \n $0.05\n \n per unit for aggregate gross proceeds of\n \n $75,000\n \n with each Unit consisting of one common share in the capital of the Company (a \"\n \n Common\n \n \n Share\n \n \") and one Common Share purchase warrant (a \"\n \n Warrant\n \n \"), with each whole Warrant exercisable for one Common Share at a price of\n \n $0.10\n \n per share within 24 months of the closing; and ii) 384,616 flow-through units (\"\n \n Flow-Through Units\n \n \") for aggregate gross proceeds of\n \n $25,000\n \n with each Flow-Through Unit consisting of one Common Share issued on a flow-through basis within the meaning of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) and one-half of one Common Share purchase warrant (an \"\n \n FT Warrant\n \n \").  Each whole FT Warrant is exercisable for one Common Share at a price of\n \n $0.125\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 Root & Cellar Property.\n \n \n Securities issued under the Offering are subject to restrictions on resale for a period of four months from the date of closing. The Offering remains subject to final approval of the TSX Venture Exchange.\n \n \n \n About Northern\n \n \n \n Northern Shield Resources Inc. is...