Northern Shield Completes Oversubscribed Private Placement

Executive Summary

• Northern Shield Resources Inc. completed the second and final tranche of its non‑brokered private placement, raising total gross proceeds of $1,165,000.
• The offering issued a combined 21,336,510 Units/FT Units, each accompanied by purchase warrants priced at $0.075 per share.
• Proceeds will be used to fund the ongoing diamond‑drill program at the Root & Cellar Property and for general working capital.

Key Details

• Total Gross Proceeds: $1,165,000 (aggregate of both tranches).
• First Tranche: 6,700,000 Units + 9,090,910 FT Units → $835,000 gross proceeds.
• Second Tranche: 500,000 Units + 5,545,600 FT Units → $330,000 gross proceeds.
• Unit Composition:
• Unit = 1 common share + 1 Common Share purchase warrant.
• FT Unit = 1 flow‑through common share + ½ Common Share purchase warrant.
• Warrant Terms:
• FT Warrants exercisable for one common share at $0.075 within 12 months of closing.
• Regular Warrants exercisable for one common share at $0.075 within 36 months of closing.
• Statutory Hold Period: All securities subject to a four‑month and one‑day hold period.
• Finder’s Compensation: $60,000 paid in finders’ fees; issuance of 1,118,190 finder’s warrants.
• Use of Proceeds: Continue diamond drilling at the Root & Cellar Property; general working capital.

Notable Quotes

(No direct quotes were provided in the release.)