OTTAWA, Jan. 9, 2012 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") (TSXV: NRN) is pleased to announce that on December 31 it completed a private placement (the "Private Placement") of 280,000 common shares on a flow-through basis ("Flow-Through Shares") at a price of $0.25 per Flow-Through Share for gross proceeds of $70,000. The securities issued under the Private Placement cannot be traded for four months and a day from the date of their issuance. The Private Placement is subject to TSX approval. A director of Northern Shield participated in the financing.
Northern Shield is an innovative, results-driven Canadian company focused on PGE exploration in Canada and Cu-Zn-Ag VMS on its Wabassi and Storm properties. 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.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information:
on Northern Shield and its properties, please visit our website at www.northern-shield.com or contact:
Northern Shield Resources Inc.
President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760