Northisle Announces $2 Million Priva Te Placement with Cornerstone Investors
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
February 27, 2023
TSX Venture Exchange Symbol: NCX
NORTHISLE ANNOUNCES $2 MILLION PRIVA TE PLACEMENT WITH
CORNERSTONE INVESTORS
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 has agreed to issue approximately 12 million shares to certain cornerstone investors and insiders of the Company.
The non-brokered private placement (the “Private Placement”) will be priced at $0.165 per common share raising gross
proceeds of approximately $2 million.
The following cornerstone investors have confirmed their intention to participate in the Private Placement:
• Michael Gentile will participate on a pro-rata basis to maintain his current interest in the Company’s issued and
outstanding common shares, and on a partially diluted basis (assuming full exercise of all his warrants and no
other issuance of common shares by the Company), Mr. Gentile will own 9.9 9% of North isle’s issued and
outstanding common shares
• Donald K. Johnson will participate to increase his interest in the Company to 9.99%
• Dale Corman, Northisle’s Chairman, will participate on a pro-rata basis to maintain his current 11% position
In addition to the three shareholders listed above, Sam Lee, CEO, has confirmed his intention to participate in the Private
Placement. Full particulars of insider participation will be included in the news release announcing the closing of the
Private Placement.
Sam Lee, Northisle President and CEO commented, “We are very pleased to have our largest shareholders, Michael, Don
and Dale, continue to endorse the significant strides made by Northisle as we advance the North Island Project. We are
fully funded for our exploration plans in 2023 and well into 2024 for our general corporate expenses with more than $8
million in working capital as at the end of 2022, pro forma this financing . As we emerge into the super cycle for critical
metals, it is this type of thought leadership and conviction that is valued. Having the cornerstone support of these highly
successful individuals is a powerful advantage for Northisle going forward.”
Mr. Gentile is considered one of the leading strategic investors in the junior mining sector, owning significant top five
ownership stakes in over 20 small-cap mining companies. Michael recently co -founded Bastion Asset Management a
money management firm in Mont real and was previously a Vice President and Senior Portfolio Manager with Formula
Growth Limited.
Mr. Johnson is currently a member of the Advisory Board of BMO Capital Markets and was previously Vice Chairman of
Nesbitt Burns after a long career at Burns Bros. and Denton Limited. Don is currently Chairman Emeritus and Director of
goeasy Ltd , Director of Murchison Minerals, and serves as a volunteer board member on various not -for-profit
organizations. He was also former Director of the Toronto Stock Exchange and Chairman of the Investment Dealers
Association of Canada. He is an Officer of the Order of Canada.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
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.
The Private Placement is subject to the completion of formal documentation and receipt of all necessary regulatory
approvals, including the approval of the TSX Venture Exchange (“TSX-V”).
The Common Shares issued pursuant to this Private 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.
All dollars are Canadian unless otherwise noted.
About Northisle
Northisle Copper and Gold Inc. is a Van couver-based company whose mission 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
more than 34,000-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 completed an updat ed preliminary economic
assessment for the North Island Project in 2021 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: (604) 638-2515
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 ex emption 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 Offering on the proposed terms or at all, anticipated use
of proceeds from the Offering, the participation of certain insiders and others in the Offering, and receipt of regulatory approvals with respect to
the Offering 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; stakeholder engagement; marketing and transportation
costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sou rces, and/or inability to
access sufficient capital on favourable terms; industry and government regulation; changes in legislatio n, 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
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
preparation, may prove to be incorrect and actual results ma y 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.