Investors include Callinan Royalties; units were sold at C$0.11 apiece
By Devika Patel
Knoxville, Tenn., Nov. 15 - Northern Shield Resources Inc. said it settled a C$1.4 million non-brokered private placement of units. Callinan Royalties Inc. invested C$700,000.
The company sold 12,727,272 units of one common share and one half-share warrant at C$0.11 per unit.
Each whole warrant is exercisable at C$0.22 for two years. The strike price reflects a 144.44% premium to C$0.09, the Nov. 14 closing share price.
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$1.4 million
|
| Units: | 12,727,272
|
| Price: | C$0.11
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.22
|
| Agent: | Non-brokered
|
| Investor: | Callinan Royalties Inc. (for C$700,000)
|
| Settlement date: | Nov. 15
|
| Stock symbol: | TSX Venture: NRN
|
| Stock price: | C$0.09 at close Nov. 14
|
| Market capitalization: | C$10.36 million
|
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