Business
Northisle Copper and Gold Announces $1.9 Million Strategic Investment by Michael Gentile, CFA and Pierre Beaudoin
VANCOUVER, British Columbia / Dec 13, 2021 / Business Wire / Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to announce t
About this update from Northisle Copper And Gold Inc.
[{"type":"text","content":"VANCOUVER, British Columbia / Dec 13, 2021 / Business Wire / Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to announce that it intends to raise aggregate gross proceeds of approximately $1,918,240 pursuant to a non-brokered private placement (the “Private Placement”) consisting of 10,096,000 units (each a “Unit”) at a price of C$0.19 per Unit. Each unit consists of one common share of the Company (each a “Common Share”) and one half of one common share purchase warrant of the Company (each a “Warrant”). Each Warrant is exercisable to acquire one Common Share at an exercise price of $0.28 for a period of two years from the date of closing of the Private Placement, subject to acceleration in certain circumstances. Proceeds from the Private Placement will be used for development and exploration expenditures for the North Island Copper Gold Project (the “North Island Project”) as well as general corporate purposes. Sam Lee, President and CEO, stated: “We are pleased to have Michael and Pierre make this strategic investment in Northisle. Since October 2020, Michael has built a significant position in the Company driven by his conviction around the enormous value opportunity that Northisle presents. Throughout the past year, I have developed a great respect for Michael’s thought leadership and know that this respect is shared by many within the capital markets industry. Today’s investment is yet another endorsement of his ongoing support and initiates a strategic relationship that will contribute to Northisle’s attractive growth trajectory in 2022 and beyond. We also welcome Pierre to the Northisle family as we look forward to drawing on his vast mine building and operating experience.” Michael Gentile, CFA, added: “I’ve been an investor in NCX since 2020 as I believe that the North Island Project is a very buildable mine trading at a small fraction of its economic value. The project benefits from great infrastructure and Tier 1 location, large scale, economic grades and robust PEA economics indicating strong returns. In addition to the robust mine build economics and attributes, the North Island project has significant untapped exploration upside that with success could increase the mine life well beyond the 20 years in the PEA and enhance the project economics even further with potential high ...