/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
OTTAWA, March 4, 2019 /CNW/ - Northern Shield Resources
Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to
announce that it has closed the final tranche of a financing under
the terms previously announced (the "Offering"). This tranche
consisted of 4,133,333 units at $0.055 per unit (each a "Unit") for aggregate
gross proceeds of $227,333.
Each Unit consists 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 whole warrant is exercisable
for one Common Share at a price of $0.10 per share within 24 months of the closing
of the Offering. The warrants are subject to an acceleration
clause whereby should the Common Shares close on the TSX Venture
Exchange (the "TSXV") for 20 consecutive trading days at a price
equal to or more than $0.25, the
Warrants will expire 5 days thereafter. The Offering is subject to
final approval of the TSX Venture Exchange. The Common Shares
and Warrants issued pursuant to the Offering are subject to a
statutory hold period of four months following closing.
Proceeds of the Offering will be used for working capital and for
further exploration of the Company's properties.
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.
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 Company may 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.