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Northern Shield Resources Inc Announces Up To CAD2.2 Million Financing


Monday, 22 Apr 2013 05:09pm EDT 

Northern Shield Resources Inc announced a private placement of common shares for up to CAD1.5 million. Macquarie Capital Markets Canada Ltd., as sole agent (the Agent), will conduct the Offering on a reasonable commercial efforts basis at a price of CAD0.11 per Common Share. Northern Shield also intends to complete a concurrent non-brokered private placement of up to an additional 6,350,000 Common Shares on the same terms as the Brokered Offering, for additional gross proceeds of up to approximately CAD700,000 (together with the Brokered Offering, the Offerings). The net proceeds from the Offerings will be used to fund further exploration and development activities at Northern Shield's 49% owned Wabassi property in northern Ontario, exploration at Ikertoq in Greenland where Northern Shield has an option to earn a 50% interest and for general corporate purposes. 

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