Northisle Negotiates Loan Agreement
15 March 2014 - 8:00AM
Marketwired
Northisle Negotiates Loan Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 14, 2014) -
Northisle Copper and Gold Inc. ("Northisle" or the "Company")
(TSX-VENTURE:NCX) announces that it has negotiated a loan agreement
with certain insiders, pursuant to which $40,000 will be advanced
to the Company, such advances to be considered secured loans
accruing interest at a rate of 12% per annum to be calculated and
paid semi-annually from the date of the advances.
As additional consideration for such advances, the Company has
agreed to issue 160,000 "bonus shares" to the lenders pursuant to
the provisions of the TSX Venture Exchange (the "Exchange") Policy
5.1, subject to the Company receiving acceptance from the
Exchange.
About Northisle
Northisle is a Vancouver based junior resource company committed
to the exploration and development of the North Island Copper-Gold
Project on Northern Vancouver Island. The North Island Copper-Gold
Project is situated approximately 15-40 kilometres southwest of
Port Hardy and contains the Hushamu Deposit and five other
partially explored copper-gold porphyry occurrences. The Company
has a current resource estimate on the Hushamu Deposit which has
been filed on Sedar. The project is 100% owned by Northisle.
For more information on Northisle and the Hushamu Deposit please
visit the Company's website at www.northisle.ca.
On behalf of Northisle Copper and Gold Inc.
David M Douglas, CA, CFO and Director
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.
This news release contains forward-looking statements. These
forward-looking statements are based upon the reasonable beliefs of
Northisle and its management as of the date of this news release;
however, forward-looking statements involve risks and uncertainties
and are based upon factors that may change and assumptions that may
prove, with the passage of time, to be incorrect as a result of
exploration and other risk factors associated with mineral
exploration and development that are beyond the control of
Northisle. Accordingly, undue reliance should not be placed upon
such statements. If factors materially change or assumptions are
materially incorrect, the actual results, performance or
achievements of Northisle may be materially different from any
future results, performances or achievements expressed or implied
by such forward-looking statements. Northisle does not undertake
any obligation to update or revise any forward-looking statements
to reflect new information, future events or otherwise, except as
required by applicable law.
Northisle Copper and Gold
Inc.604.638.2515604.669.2926www.northisle.ca
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