Northcliff Announces $700,000 Private Placement Financing
NORTHCLIFF ANNOUNCES $700,000 PRIVATE
PLACEMENT FINANCING
VANCOUVER, BC
,
Jan. 23, 2024
/CNW/ - Northcliff Resources Ltd. ("Northcliff" or the "Company")
(TSX: NCF) is pleased to announce that it has arranged a non-brokered private placement (the
"Private Placement") of 37,333,333 common shares of the Company ("Common Shares") at a price
of
$0.01875
per Common Share with the Todd Sisson (NZ) Limited ("Todd") for gross proceeds to
the Company of
$700,000
. Todd currently owns a total of 439,058,144 Common Shares in the
capital of Northcliff, and after its participation in the Private Placement will hold 476,391,477
Common Shares or an 80.86% interest in the Company. The Common Shares issued are subject to
applicable resale restrictions, including a hold period of four months and one day from the closing of
the Private Placement under Canadian securities rules. The Private Placement is subject to
customary closing conditions including final Toronto Stock Exchange approval. Proceeds of the
Private Placement will be used to fund the Company's share of expenditures related to the Sisson
Project and for working capital and general corporate purposes.
About Northcliff Resources Ltd.
Northcliff is a mineral resource company focused on advancing the feasibility-stage Sisson Tungsten-
Molybdenum Project located in
New Brunswick, Canada
, to production.
Additional information on Northcliff is available on the website at
www.northcliffresources.com
.
On behalf of the Board of Directors
Andrew Ing
President & CEO
This release includes certain statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical facts, that address the in-progress
financing, or other events that the Company expects, are forward looking statements. Although the
Company believes the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward-looking statements.
Investors are cautioned that any such statements are not guarantees of future performance and
actual results or developments may differ materially from those projected in the forward-looking
statements. For more information on the Company, investors should review the Company's
continuous disclosure filings that are available at
www.sedarplus.ca
.
SOURCE
Northcliff Resources Ltd.
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%SEDAR: 00030606E
For further information:
Investor services can be reached at (604) 684-6365 or within North
America at 1-800-667-2114.
CO: Northcliff Resources Ltd.
CNW 07:45e 23-JAN-24