ISSUES SHARES FOR DEBT
BURLINGTON, ON, Jan. 25 /CNW/ - Silver Shield Resources Corp. (TSX-V: SSR) (the "Company") is pleased to announce that it has completed a
non-brokered private placement (the "Private Placement") to raise
$250,200 through the issuance of 4,170,000 2011 flow-through units
(each a "Flow-Through Unit"). Each unit consists of one common share in
the capital of the Company, issued at $0.06 per Flow-Through Unit on a
flow-through basis under the provisions of the Income Tax Act (Canada),
and one-half common share purchase warrant. Each full warrant has a
term of 24 months from the date of issuance (the "Expiry Date") and
entitles the holder to purchase one common share of the Company at an
exercise price of $0.15 per share at any time until the Expiry Date.
The Company is now sufficiently funded to undertake its exploration
plans on the Welsh Silver Mine Project, Elk Lake, Ontario, the Lost Dog
Gold Project, Timmins, Ontario and in connection with exploration of
any additional projects the Company may acquire.
The Company paid a finder's fee to arm's length parties in connection
with the Private Placement, in cash and/or securities of the Company,
in accordance with the policies of the TSX Venture Exchange.
The company is also pleased to announced that it has issued 1,436,700
shares for debt previously announced on December 23, 2010 and has
therefore extinguished $ 161,997 of debt from it's books. The company
is pleased that the shares issued was at prices over market and thanks
the debtors for their show of confidence in the company and it's
We seek Safe Harbour.
ON BEHALF OF THE BOARD
SILVER SHIELD RESOURCES CORP.
"Tim Towers" (signed)
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined on the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Company Management, which takes full responsibility for content,
prepared this news release. In order to proceed fully with the
Company's exploration and acquisition plans, additional funding may be
necessary and, depending on market conditions, this funding may not be
forthcoming on a schedule or on terms that facilitate the Company's
For further information:
please visit www.silvershieldresources.com or contact:
Silver Shield Resources Corp.
Tim Towers, Chief Executive Officer, Phone: 289-337-6162
Donald Shaxon, Manager of Corporate Development, (289) 838-5936
Fax: 289-337-6678 email@example.com
Phone: 289-337-6162 Fax: 289-337-6678