Northisle Announces $1.9 Million Stra Tegic Investment BY Michael Gentile, Cfa and Pierre Beaudoin
Northisle Copper and Gold Inc. | 15th Floor, 1040 West Georgia Street | Vancouver, BC | V6E 4H1
www.northisle.ca | [email protected]
December 13, 2021
TSX Venture Exchange Symbol: NCX
NORTHISLE ANNOUNCES $1.9 MILLION STRA TEGIC INVESTMENT
BY MICHAEL GENTILE, CFA AND PIERRE BEAUDOIN
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR
DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Vancouver, B.C. – Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to announce
that it intends to raise aggregate gross proceeds of approximately $1,918,240 pursuant to a non-brokered private
placement (the “Private Placement”) consisting of 10,096,000 units (each a “Unit”) at a price of C$0.19 per Unit. Each
unit consists of one common share of the Company (each a “Common Share”) and one half of one common share
purchase warrant of the Company (each a “Warrant”). Each Warrant is exercisable to acquire one Common Share at an
exercise price of $0.28 for a period of two years from the date of closing of the Private Placement, subject to
acceleration in certain circumstances.
Proceeds from the Private Placement will be used for development and exploration expenditures for the North Island
Copper Gold Project (the “North Island Project”) as well as general corporate purposes.
Sam Lee, President and CEO, stated: “We are pleased to have Michael and Pierre make this strategic investment in
Northisle. Since October 2020, Michael has built a significant position in the Company driven by his conviction around
the enormous value opportunity that Northisle presents. Throughout the past year, I have developed a great respect
for Michael’s thought leadership and know that this respect is shared by many within the capital markets industry.
Today’s investment is yet another endorsement of his ongoing support and initiates a strategic relationship that will
contribute to Northisle’s attractive growth trajectory in 2022 and beyond. We also welcome Pierre to the Northisle
family as we look forward to drawing on his vast mine building and operating experience.”
Michael Gentile, CFA, added: “I’ve been an investor in NCX since 2020 as I believe that the North Island Project is a very
buildable mine trading at a small fraction of its economic value. The project benefits from great infrastructure and Tier
1 location, large scale, economic grades and robust PEA economics indicating strong returns. In addition to the robust
mine build economics and attributes, the North Island project has significant untapped exploration upside that with
success could increase the mine life well beyond the 20 years in the PEA and enhance the project economics even
further with potential high grade discoveries. Since his appointment in October 2020 I’ve been very impressed with
Sam Lee’s leadership and his plan to unlock the significant value of the North Island project for all shareholders and
stakeholders and I look forward to working alongside Sam as a strategic shareholder to maximize the potential of the
North Island Project.”
On closing of the Private Placement, Mr. Gentile will own approximately 7.7% of the Company’s issued and outstanding
Shares, and on a partially-diluted basis (assuming full exercise of all of his Warrants and no other issuance of Shares by
the Company), Mr. Gentile will own 9.9% of the Company’s issued and outstanding Shares.
Mr. Gentile is considered one of the leading strategic investors in the junior mining sector, owning significant top 5
stakes in over 15 small-cap mining companies. Michael is currently a strategic advisor to Arizona Metals (AMC-V) and a
director of Northern Superior Resources (SUP-V), Roscan Gold (ROS-V), Radisson Mining Resources (RDS-V) and Solstice
Gold (SGC-V). Michael recently founded Bastion Asset Management and was previously a Vice President and Senior
Portfolio Manager with Formula Growth Limited.
Mr. Beaudoin is a mining executive with over 36 years of experience and has been the Chief Operating Officer of
Silvercrest Metals Inc. (SIL-T) since 2018. Previously, Pierre was the COO at Detour Gold Corporation after starting as
Senior VP of Capital Projects. Previously, he worked for 16 years at Barrick, including 6 years in the Capital Projects
Northisle Copper and Gold Inc. | 15th Floor, 1040 West Georgia Street | Vancouver, BC | V6E 4H1
www.northisle.ca | [email protected]
Group, where he led the study teams on Buzwagi, Donlin Creek and Cerro Casale. Before joining Barrick in 1996, he
worked for Lac Minerals Ltd. and Noranda Minerals.
The Private Placement is subject to the completion of formal documentation and receipt of all necessary regulatory
approvals, including the approval of the TSX-V.
The Common Shares and Warrants issued pursuant to this Offering, and any Common Shares issued upon exercise of
the Warrants, will be subject to a hold period expiring four months and one day from the closing date of the Private
Placement in accordance with applicable Canadian securities laws.
About Northisle
Northisle Copper and Gold Inc. is a Vancouver -based company whose miss ion is to become a leading and sustainable
mineral resource company for the future. Northisle owns the North Island Project, which is one of the most promising
copper and gold porphyry deposits in Canada. The North Island Project is located near Port Hardy, British Columbia on a
33,149-hectare block of mineral titles 100% owned by Northisle stretching 50 kilometres northwest from the now closed
Island Copper Mine operated by BHP Billiton. Northisle recently completed an updated preliminary economic assessment
for the North Island Project and is now focused on advancement of the project through a prefeasibility study while
continuing exploration within this highly prospective land package.
For more information on Northisle please visit the Company’s website at www.northisle.ca.
On behalf of Northisle Copper and Gold Inc.
Nicholas Van Dyk, CFA
Chief Financial Officer
Tel: (778) 655-9582
Email: [email protected]
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 abili ty to complete the Private Placement on the proposed terms or at all,
anticipated use of proceeds of the Private Placement, receipt of regulatory approvals with respect to the Private Placement a s well as any other
future plans, objectives or expectations of Northisle, including statements relating to the prospects of Northisle and the North Island Project and
the Company’s plans and expectations for the advancement of the North Island Project, including advancing the North Island Project towards pre-
feasibility and the Company’s anticipated exploration activities. 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; stakeholder engagement; marketing and transportation co sts; 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.
Northisle Copper and Gold Inc. | 15th Floor, 1040 West Georgia Street | Vancouver, BC | V6E 4H1
www.northisle.ca | [email protected]
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.