By Devika Patel
Knoxville, Tenn., May 14 - Northern Shield Resources Inc. said it took in C$1.42 million in a non-brokered private placement of units. The deal priced for C$1.41 million on April 28.
The company sold 15,827,777 units of one common share and one half-share warrant at C$0.09 apiece. Each whole warrant is exercisable at C$0.15 for 18 months.
Proceeds will be used for exploration on Northern Shield's properties, working capital and general corporate purposes.
Northern Shield is a platinum and diamond explorer in Ottawa.
| Issuer: | Northern Shield Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,424,500
|
| Units: | 15,827,777
|
| Price: | C$0.09
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.15
|
| Warrant expiration: | 18 months
|
| Agent: | Non-brokered
|
| Pricing date: | April 28
|
| Settlement date: | May 14
|
| Stock symbol: | TSX Venture: NRN
|
| Stock price: | C$0.08 at close April 28
|
| Market capitalization: | C$4.86 million
|
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