OTTAWA, April 24, 2012 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") (TSXV: NRN) is pleased announce that it has granted options to acquire a total of 1,850,000 common shares pursuant to its Stock Option Plan. Options to acquire a total of 1,450,000 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 $0.25 for a period ending March 26, 2017, with the options all vesting as to 1/3 on the date of grant, 1/3 on the first anniversary of the date of grant and the final 1/3 on the second anniversary of the date of grant. Following such grant of options, Northern Shield now has outstanding under its Stock Option Plan options to acquire up to 7.3% of Northern Shield's outstanding common shares.
Northern Shield is an innovative, results-driven Canadian company focused on PGE exploration in Ontario and Quebec. 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.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information:
Northern Shield Resources Inc.
President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760