/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
OTTAWA,
ON, March 3, 2025 /CNW/ - Northern Shield
Resources Inc. ("Northern Shield" or the
"Company") (TSXV: NRN) is pleased to
announce that it intends to undertake a non-brokered private
placement financing for aggregate gross proceeds of $600,000 (the "Offering").
The Offering will be comprised of 15,000,000
units ("Units") at $0.04
per Unit with each Unit consisting of one common share in the
capital of the Company (a "Common Share") and one
Common Share purchase warrant (a "Warrant"). Each Warrant is
exercisable for one Common Share at a price of $0.10 per share within 24 months of the closing.
Proceeds from the offering will be used primarily for a
planned 3,000m diamond drill program
and other exploration at the Company's Root & Cellar Property
and general working capital purposes.
The Units will be sold to "accredited investors" and other
exempt parties pursuant to exemptions from prospectus requirements
under Canadian securities laws, and the Company has been authorized
to pay up to 6% cash finders fees and up to 6% Warrants, where
applicable, to certain registered brokers and dealers in respect of
investors introduced to the Company who purchase Units.
Securities issued under the Offering are subject to restrictions
on resale for a period of four months and a day from the date of
closing. The Offering is subject to final approval of the TSX
Venture Exchange. The Company anticipates closing on
March 14, 2025
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.
About Northern Shield Resources
Northern Shield Resources Inc. is a Canadian-based company known
as a leader in generating high-quality exploration targets that
views greenfield exploration as an opportunity to find a Tier 1
asset, near surface, and at relatively low cost. We implement a
model driven exploration approach to reduce the risk associated
with early-stage projects for ourselves, our shareholders, and the
environment. This approach led us to option the Root & Cellar
Property from a Newfoundland
prospector, who discovered the mineralization, and then its
advancement to a large gold-silver-tellurium and copper porphyry
system.
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
Offering, the expectations of management regarding the use of
proceeds of the Offering, closing conditions for the Offering, and
TSXV final approval of the 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 TSXV may not provide final approval of 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 required by the TSXV. 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.
