OTTAWA, Oct. 10 /CNW Telbec/ - Northern Shield Resources Inc. ("Northern
Shield") (TSX-V: NRN) is pleased to announce that it has completed a private
placement (the "Private Placement") of 1,355,000 common shares on a
flow-through basis ("Flow-Through Shares") of Northern Shield at a price of
$0.35 per Flow-Through Share for gross proceeds of $474,250. Finder's fees of
$25,200 in cash and warrants entitling the holders to acquire an aggregate of
81,300 common shares at an exercise price of $0.35 per common share for a
period of eighteen months were paid in connection with the Private Placement.
The securities issued under the Private Placement and the common shares
issuable upon exercise of the warrants cannot be traded for four months and a
day from the date of their issuance.
Northern Shield is an innovative, results-driven Canadian company focused
on diamond and Platinum Group Element (PGE) exploration in Ontario. Its
mission is to create a successful mineral exploration company through
technical excellence and efficient management, where success is measured by
the identification and development of high-quality mineral exploration
projects, which may ultimately be optioned, sold or developed for maximum
return on investment. For further information on Northern Shield and its
properties, please visit our website at www.northern-shield.com or contact:
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
For further information:
For further information: Ian Bliss, President and CEO, Northern Shield
Resources Inc., (613) 232-0459, Fax: (613) 232-0760, firstname.lastname@example.org