Units with half-share warrants sold at C$0.16 apiece in two tranches
By Devika Patel
Knoxville, Tenn., July 18 – Northern Shield Resources Inc. said it completed a C$428,800 second tranche of a C$1.43 million non-brokered private placement of units. The deal raised C$1 million in a tranche with Commodity Discovery Fund on June 30.
The company sold 8.93 million units of one common share and one half-share warrant at C$0.16 per unit. It sold 6.25 million units in the first tranche and 2.68 million units in the second.
Each whole warrant is exercisable at C$0.22 until July 1, 2019 or July 16, 2019. The strike price reflects a 29.41% premium to C$0.17, the June 29 closing share price.
SIDEX invested C$100,000.
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$1,428,800
|
| Units: | 8.93 million
|
| Price: | C$0.16
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | July 1, 2019, July 16, 2019
|
| Warrant strike price: | C$0.22
|
| Agent: | Non-brokered
|
| Investor: | Commodity Discovery Fund (for C$1 million), SIDEX (for C$100,000)
|
| Settlement dates: | June 30 (for C$1 million), July 18 (for C$428,800)
|
| Stock symbol: | TSX Venture: NRN
|
| Stock price: | C$0.17 at close June 29
|
| Market capitalization: | C$29.35 million
|
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