/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
OTTAWA, May 3, 2013 /CNW/ - Northern Shield Resources Inc. ("Northern
Shield") (TSXV: NRN) is pleased to announce that it intends to increase
the size of its previously announced brokered private placement
financing from C$1.5 million to C$2.0million (the "Brokered Offering"),
for total gross proceeds of C$2.7 million including the previously
announce C$700,000 non-brokered private placement (together with the
Brokered Offering, the "Offerings"). Macquarie Capital Markets Canada
Ltd., as sole agent (the "Agent"), is conducting the Offering on a
reasonable commercial efforts basis on the same terms as announced on
April 22, 2013.
The net proceeds from the Offerings will be used to fund further
exploration and development activities at Northern Shield's Ikertoq
property in Greenland where Northern Shield has an option to earn a 50%
interest, exploration at its 49% owned Wabassi property in northern
Ontario and for general corporate purposes.
It is expected that the closing of the Offerings will occur on or about
May 9, 2013 (the "Closing Date") subject to the satisfaction of certain
conditions, including the approval of the TSX Venture Exchange.
Northern Shield is an innovative, results-driven Canadian company
focused on Platinum Group Element (PGE) and nickel-copper-PGE
exploration in Canada and Greenland and, copper-zinc-silver exploration
on its Wabassi and Storm properties in northern 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.
This press release is not an offer to sell or the solicitation of an
offer to buy the securities, nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to qualification or registration under the
securities laws of such jurisdiction. The securities being offered
have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), and
such securities may not be offered or sold within the United States or
to a U.S. person absent registration or an applicable exemption from
U.S. registration requirements. "United States" and "U.S. person" have
the respective meanings assigned in Regulation S under the U.S.
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.
SOURCE: NORTHERN SHIELD RESOURCES INC.
For further information:
Northern Shield Resources Inc.
Ian Bliss President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760
Renmark Financial Communications Inc.
Barry Mire: firstname.lastname@example.org
Tel.: (514) 939-3989 or (416) 644-2020