Proceeds of non-brokered offering allocated to exploration of projects
By Devika Patel
Knoxville, Tenn., June 29 - Northern Shield Resources Inc. said it completed a C$2.55 million non-brokered private placement of stock. Anglo Pacific plc was the principal participant.
The company sold 4.9 million common shares at C$0.25 apiece and 4,026,704 flow-through common shares at C$0.33 apiece.
The price per common share is a 2.04% premium to the June 28 closing share price of C$0.245. The price per flow-through common share is a 34.69% premium to that price.
Proceeds will be used for exploration on Northern Shield's properties, including Highbank Lake and Wabassi, and for general corporate purposes.
Northern Shield is a platinum and diamond explorer in Ottawa.
| Issuer: | Northern Shield Resources Inc.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$2,553,812
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Anglo Pacific plc
|
| Settlement date: | June 29
|
| Stock symbol: | TSX Venture: NRN
|
| Stock price: | C$0.245 at close June 28
|
| Market capitalization: | C$23.97 million
|
|
|
| Flow-through shares
|
| Amount: | C$1,328,812
|
| Shares: | 4,026,704
|
| Price: | C$0.33
|
|
|
| Common shares
|
| Amount: | C$1,225,000
|
| Shares: | 4.9 million
|
| Price: | C$0.25
|
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