/NOT FOR DISSEMINATION IN THE UNITED
STATES OR TO UNITED STATES
NEWSWIRE SERVICES/
TSX Venture Exchange Symbol: NCX
VANCOUVER, BC, Oct. 13, 2020
/CNW/ - NorthIsle Copper and Gold Inc. (TSXV:
NCX)("NorthIsle" or the "Company")
announces that it intends to raise up to
$3,000,000 by way of a non-brokered
private placement to consist of up to 23,076,923 common shares
at a price of $0.13 per share (the
"Placement").
Certain insiders of the Company intend to participate, with full
particulars of such participation to be included in the news
release announcing the closing of the Placement. In addition,
NorthIsle has included affiliates of the Sprott Group ("Sprott") in
the Placement.
The proceeds will be used by NorthIsle to complete the updated
Preliminary Economic Assessment as described in the October 5th, 2020 press release,
advance exploration activities, and for general working capital
purposes.
Sam Lee, President and CEO
comments: "Since joining, I have received overwhelming support for
our plans. This offering activates our vision to become the leading
mineral resource company of the future. I thank existing and new
shareholders for their enthusiastic participation and welcome
Sprott as our lead institutional investor."
The Placement is non-brokered; however, the Company may pay
finder's fees in accordance with the rules and policies of the TSX
Venture Exchange ("TSX-V"). The Placement is subject to the
completion of formal documentation and receipt of all necessary
regulatory approvals, including the approval of the TSX-V.
The securities issued pursuant to these private placements will
be subject to a hold period expiring four months and one day from
the date of issuance in accordance with applicable Canadian
securities laws.
For more information on NorthIsle please visit the
Company's website at www.Northisle.ca.
On behalf of NorthIsle Copper and Gold Inc.
Sam Lee
President and CEO
www.northisle.ca
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Cautionary Statements regarding Forward-Looking
Information
Certain information in this news release constitutes
forward-looking statements under applicable securities law.
Any statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as "may", "should", "anticipate", "expect", "intend" and
similar expressions. Forward-looking statements in this news
release include, but are not limited to, statements
relating to the ability to complete the Placement on the proposed
terms or at all, anticipated use of proceeds from the Placement,
the participation of certain insiders and others in the Placement,
and receipt of regulatory approvals with respect to the Placement
as well as any other future plans, objectives or expectations of
NorthIsle. Forward-looking statements
necessarily involve known and unknown risks, including, without
limitation, NorthIsle's ability to implement its business
strategies; risks associated with mineral exploration and
production; risks associated with general economic conditions;
adverse industry events; marketing and transportation costs; loss
of markets; volatility of commodity prices; inability to access
sufficient capital from internal and external sources, and/or
inability to access sufficient capital on favourable terms;
industry and government regulation; changes in legislation, income
tax and regulatory matters; competition; currency and interest rate
fluctuations; and other risks. Readers are cautioned that the
foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release
represent the expectations of management of NorthIsle as of the
date of this news release, and, accordingly, are subject to change
after such date. NorthIsle does not undertake any
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
SOURCE NorthIsle Copper and Gold Inc.