Deal offers 11.3 million units at C$0.22 apiece to HudBay Minerals
By Devika Patel
Knoxville, Tenn., Feb. 1 - Northern Shield Resources Inc. settled a C$2.49 million private placement of units, according to a press release from investor HudBay Minerals Inc.
The company sold 11.3 million units of one common share and one half-share warrant at C$0.22 per unit to HudBay.
Each whole warrant is exercisable at C$0.40 for two years. The strike price reflects a 63.27% premium to C$0.245, the Jan. 31 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$2,486,000
|
| Units: | 11.3 million
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Investor: | HudBay Minerals Inc.
|
| Settlement date: | Feb. 1
|
| Stock symbol: | TSX Venture: NRN
|
| Stock price: | C$0.24 at close Feb. 1
|
| Market capitalization: | C$24.15 million
|
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