OTTAWA, June 30, 2017 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce the appointment of Dr. Frank Santaguida to the Board of Directors of Northern Shield, subject to TSXV approval. Dr. Santaguida has considerable experience and expertise in Ni-Cu-PGE systems including 15 years with First Quantum Minerals Ltd, Xstrata Copper and Falconbridge. Ltd. He currently serves as Vice President, Exploration of First Cobalt Corporation. Dr. Santaguida is a professional geologist and completed his B.Sc. and M.Sc. at University of Waterloo and his Ph.D. at Carleton University.
"We are very pleased to have Dr. Santaguida on board," says Northern Shield President and CEO Ian Bliss, "he brings to Northern Shield a wealth of global Ni-Cu-PGE knowledge, particularly regarding target evaluation and project generation."
Northern Shield also announces that Mr. William Kiff has retired as Chairman of the Board of Directors of Northern Shield. Mr. Kiff has been Chairman since 2003, when Northern Shield first listed on the TSX-V. The Company extends its sincere gratitude to Mr. Kiff for 14 years of dedication and leadership. Mr. Kiff is replaced as Chairman by Mr. Russell Richards. Mr. Richards joined the Board in 2016, and has worked to help manage private equity portfolio companies in Atlanta, Georgia, since 2009. Mr. Richards previously worked for investment banks in Atlanta, London and Lagos.
Northern Shield also announces the granting of options to acquire a total of 5,550,000 common shares pursuant to its shareholder approved stock option plan (the "Stock Option Plan"). Options to acquire a total of 4,125,000 common shares were issued to Northern Shield's officers and directors, and the balance were issued to employees and consultants of Northern Shield. Each option entitles the holder to acquire one share for $0.10 per share for a period ending June 30, 2022.
This grant largely replaces 3,550,000 options that have expired within the last 9 months. Following such grant of options, Northern Shield now has outstanding under its Stock Option Plan options to acquire just under 6% of Northern Shield's outstanding common shares.
Northern Shield Resources Inc. is a Canadian-based company focused on exploring for platinum group element ("PGE") and nickel-copper-PGE deposits. It is known as a leader in grass roots exploration for Ni-Cu-PGEs and the understanding of magmatic systems as it applies to exploration.
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, [email protected]