Early Warning Report Issued with Respect to the Acquisition of Securities of Northern Shield Resources Inc.
Early Warning Report Issued with Respect to
the Acquisition of Securities of Northern
Shield Resources Inc.
CALGARY, AB
,
July 22, 2023
/CNW/ - This news release is being disseminated as required by
National Instrument 62-103 in connection with the acquisition of securities of Northern Shield
Resources Inc. (the "
Corporation
") (TSXV: NRN.V).
Between
July 18, 2023
and
July 20, 2023
Russell Richards, the chair of the board of the
Corporation, acquired (the "
Acquisition
") an aggregate of 4,400,000 common shares (the
"
Acquired
Shares
") in the capital of the Corporation. The Acquired Shares were purchased in three
separate transactions as follows: 2,657,000 common shares on
July 18, 2023
at a price of
$0.050
per common share; 1,564,000 common shares on
July 19, 2023
at a price of
$0.050
per common
share; and 179,000 common shares on
July 20, 2023
at a price of
$0.055
per common share. Total
consideration paid for the Acquired Shares was
$220,895.00
. The Acquisition was conducted
through the facilities of the TSX Venture Exchange.
Prior to the Acquisition, Mr. Richards beneficially owned, controlled or directed an aggregate of
4,000,000 common shares, representing approximately 5.2% of the issued and outstanding common
shares in the capital of the Corporation. Following the Acquisition, Mr. Richards beneficially owns,
controls or directs an aggregate of 8,400,000 common shares, representing approximately 10.9% of
the issued and outstanding common shares on a non-diluted basis, and approximately 14.37% on a
partially diluted basis, assuming the exercise of all 2,650,000 common share purchase warrants of
the Corporation held by Mr. Richards.
Mr. Richards purchased the Acquired Shares for investment purposes. Mr. Richards may acquire
additional securities or dispose of securities either on the open market or through private acquisitions
in the future depending on market conditions, reformulation of plans and/or other relevant factors and
subject to applicable securities laws.
The Corporation's head office is located at 150 Elgin Street,
Ottawa, Ontario
, K2P 1L4.
An early warning report will be electronically filed under applicable securities laws and will be
available on the Corporation's SEDAR profile at
www.sedar.com
.
SOURCE
Northern Shield Resources Inc.
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http://www.newswire.ca/en/releases/archive/July2023/22/c6599.html
%SEDAR: 00007505E
For further information:
For more information, or to obtain a copy of the early warning report,
please contact Ian Bliss at [email protected] or (613) 232-0459.
CO: Northern Shield Resources Inc.
CNW 09:28e 22-JUL-23