Northisle Provides Update on Oversubscribed Offering of Common Shares
Northisle Provides Update on Oversubscribed
Offering of Common Shares
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR TO
UNITED STATES
NEWSWIRE
SERVICES/
TSX Venture Exchange Symbol: NCX
VANCOUVER, BC,
Oct. 14, 2020
/CNW/ -
Northisle Copper and Gold Inc.
(TSXV:
NCX)
("Northisle" or the "Company") is pleased to provide an update on its private placement (the
"Placement") previously announced on
October 13, 2020
.
The Placement is oversubscribed and the Company now intends to raise gross proceeds of up to
$3.2 million
by issuing up to 24,615,385
common shares at a price of
$0.13
per share.
Please refer to the initial news release announcing the Placement for additional details, including
anticipated use of proceeds.
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 the
Placement 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, 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.
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For further information:
Sam Lee, President and CEO, www.northisle.ca
CO: NorthIsle Copper and Gold Inc.
CNW 04:00e 14-OCT-20