/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
OTTAWA, July 31, 2019 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN)
is pleased to announce that it has closed the second tranche of a
multi-faceted non-brokered private placement financing (the
"Offering") comprised of one common share in the capital of
the Company (a "Common Share") and one-half of one Common
Share purchase warrant (a "Warrant") (each a "Unit"). The
Offering is subject to the approval of the TSX Venture
Exchange.
The second tranche consisted 3,187,500 Units for gross proceeds
of $255,000. All securities issued
under the Offering are subject to a statutory four month hold from
the date of closing of the Offering.
This Offering was facilitated primarily through the proprietary
DealMaker™ software and Northern is delighted to offer this
innovative service to its investors.
About Northern
Northern Shield Resources Inc. is a Canadian-based company
focused on generating high-quality exploration programs with
experience in many geological terranes. It is known as a leader in
executing grass roots exploration program for Ni-Cu-PGEs and
utilizing expertise and innovation toward working on other deposit
types. Seabourne Resources Inc. is a wholly-owned subsidiary of
Northern Shield focussing on epithermal gold and related deposits
in Atlantic Canada and
elsewhere.
None of the securities sold in connection with the
Offering will be registered under the United States Securities Act
of 1933, as amended, and no such securities may be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains forward-looking information which
is subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ from
those projected in the forward-looking statements. Forward looking
statements in this press release but are not limited to, statements
with respect to the expectations of management regarding the
proposed Offering, the expectations of management regarding the use
of proceeds of the Offering, closing conditions for the Offering,
and Exchange approval of the proposed Offering. These
forward-looking statements are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking information. Risks that could change or prevent
these statements from coming to fruition include the Company may
not complete the Offering on terms favorable to the Company or at
all; the Exchange may not approve the Offering; the proceeds of the
Offering may not be used as stated in this news release; the funds
raised from the sale of the Flow-Through Shares may not be
renounced in favour of the FT Share holders; the Company ma be
unable to satisfy all of the conditions to the closing. The
forward-looking information contained herein is given as of the
date hereof and the Company assumes no responsibility to update or
revise such information to reflect new events or circumstances,
except as required by law.
SOURCE Northern Shield Resources Inc.