Offering to be brokered by agent Macquarie Capital Markets Canada
By Devika Patel
Knoxville, Tenn., April 22 - Northern Shield Resources Inc. said it priced a C$1.5 million private placement of stock. Macquarie Capital Markets Canada Ltd. is the agent.
The company will sell common shares at C$0.11 each on a reasonable commercial-efforts basis. The price per share represents an 8.33% discount to the April 19 closing share price of C$0.12.
Settlement is expected in early May.
Proceeds will be used for exploration and development activities at Northern Shield's Wabassi property in Ontario, exploration at Ikertoq in Greenland and for general corporate purposes.
Northern Shield said it is also negotiating a non-brokered private placement of 6.35 million additional shares at the same price for about C$700,000.
Northern Shield is a platinum and diamond explorer in Ottawa.
| Issuer: | Northern Shield Resources Inc.
|
| Issue: | Common stock
|
| Amount: | C$1.5 million
|
| Price: | C$0.11
|
| Warrants: | No
|
| Agent: | Macquarie Capital Markets Canada Ltd.
|
| Pricing date: | April 22
|
| Stock symbol: | TSX Venture: NRN
|
| Stock price: | C$0.12 at close April 19
|
| Market capitalization: | C$15.35 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
