Units were sold at C$0.16 apiece to lone investor Commodity Discovery
By Devika Patel
Knoxville, Tenn., June 30 – Northern Shield Resources Inc. said it settled a C$1 million first tranche of a non-brokered private placement of units. Commodity Discovery Fund was the investor.
The company sold 6.25 million units of one common share and one half-share warrant at C$0.16 per unit.
Each whole warrant is exercisable at C$0.22 until July 1, 2019. The strike price reflects a 29.41% premium to C$0.17, the June 29 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 million
|
| Units: | 6.25 million
|
| Price: | C$0.16
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | July 1, 2019
|
| Warrant strike price: | C$0.22
|
| Agent: | Non-brokered
|
| Investor: | Commodity Discovery Fund
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: NRN
|
| Stock price: | C$0.17 at close June 29
|
| Market capitalization: | C$27.76 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.
