NorthIsle Announces Private Placement of Common Shares
NorthIsle Announces Private Placement of
Common Shares
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR TO
UNITED STATES
NEWSWIRE
SERVICES/
TSX Venture Exchange Symbol: NCX
VANCOUVER, BC,
Oct. 13, 2020
/CNW/ -
NorthIsle Copper and Gold Inc. (TSXV:
NCX)
("NorthIsle" or the "Company") announces that it intends to raise up to
$3,000,000
by way of a
non-brokered private placement to consist of up to 23,076,923 common shares at a price of
$0.13
per share (the "Placement").
Certain insiders of the Company intend to participate, with full particulars of such participation to be
included in the news release announcing the closing of the Placement. In addition, NorthIsle has
included affiliates of the Sprott Group ("Sprott") in the Placement.
The proceeds will be used by NorthIsle to complete the updated Preliminary Economic Assessment
as described in the
October 5
th
, 2020 press release, advance exploration activities, and for general
working capital purposes.
Sam Lee
, President and CEO comments: "Since joining, I have received overwhelming support for
our plans. This offering activates our vision to become the leading mineral resource company of the
future. I thank existing and new shareholders for their enthusiastic participation and welcome Sprott
as our lead institutional investor."
The Placement is non-brokered; however, the Company may pay finder's fees in accordance with
the rules and policies of the TSX Venture Exchange ("
TSX-V
"). The Placement is subject to the
completion of formal documentation and receipt of all necessary regulatory approvals, including the
approval of the TSX-V.
The securities issued pursuant to these private placements will be subject to a hold period expiring
four months and one day from the date of issuance in accordance with applicable Canadian
securities laws.
For more information on NorthIsle please visit the Company's website at
www.Northisle.ca
.
On behalf of NorthIsle Copper and Gold Inc.
Sam Lee
President and CEO
www.northisle.ca
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within
the United States
or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
Cautionary Statements regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable
securities law. Any statements that are contained in this news release that are not statements of
historical fact may be deemed to be forward-looking statements. Forward-looking statements are
often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar
expressions. Forward-looking statements in this news release include, but are not limited
to
,
statements relating to the ability to complete the Placement on the proposed terms or at all,
anticipated use of proceeds from the Placement, the participation of certain insiders and others in
the Placement, and receipt of regulatory approvals with respect to the Placement as well as any
other future plans, objectives or expectations of NorthIsle.
Forward-looking statements necessarily
involve known and unknown risks, including, without limitation,
NorthIsle
's ability to implement its
business strategies; risks associated with mineral exploration and production; risks associated with
general economic conditions; adverse industry events; marketing and transportation costs; loss of
markets; volatility of commodity prices; inability to access sufficient capital from internal and
external sources, and/or inability to access sufficient capital on favourable terms; industry and
government regulation; changes in legislation, income tax and regulatory matters; competition;
currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing
list is not exhaustive.
Readers are further cautioned not to place undue reliance on forward-looking statements as there
can be no assurance that the plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news release are expressly qualified by
this cautionary statement.
The forward-looking statements contained in this news release represent the expectations of
management of NorthIsle as of the date of this news release, and, accordingly, are subject to
change after such date.
NorthIsle
does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release.
SOURCE
NorthIsle Copper and Gold Inc.
View original content:
http://www.newswire.ca/en/releases/archive/October2020/13/c0149.html
%SEDAR: 00032328E
For further information:
Sam Lee, President and CEO, www.northisle.ca, [email protected]
CO: NorthIsle Copper and Gold Inc.
CNW 04:00e 13-OCT-20