Northern Shield Announces Share Consolidation
NORTHERN SHIELD ANNOUNCES SHARE
CONSOLIDATION
OTTAWA, ON
,
Sept. 6, 2022
/CNW/ - Northern Shield Resources Inc. ("
Northern Shield
" or the
"
Company
") (TSXV: NRN) announces that it is proceeding with a consolidation (the
"
Consolidation
") of its common shares ("
Common Shares
") on the basis of five (5) pre-
Consolidation Common Shares for one (1) post-Consolidation Common Share. The Consolidation
was approved by the shareholders of the Company at the Company's annual general and special
meeting of shareholders held on
June 21, 2022
.
The Common Shares will commence trading on the TSX Venture Exchange (the "
TSXV
") on a
consolidated basis at the opening of markets on
September 9, 2022
under its current TSXV trading
symbol, "NRN", and under the new post-Consolidation CUSIP and ISIN numbers of 665720306 and
CA6657203064, respectively.
The Consolidation will reduce the number of outstanding Common Shares from 291,683,550 to
approximately 58,336,710, subject to rounding. No fractional Common Shares will be issued
pursuant to the Consolidation and any fractional shares that would have otherwise been issued will
be rounded down to the next lowest whole number.
Letters of transmittal have been mailed to the registered shareholders of the Common Shares
requesting that they forward their pre-Consolidation share certificates to the Company's transfer
agent, Computershare Trust Company of
Canada
, to exchange such certificates for new share
certificates representing their Common Shares on a post-Consolidation basis.
Shareholders who hold their shares through a broker or other intermediary and do not have actual
share certificates registered in their name will not be required to complete and return a letter of
transmittal. Any pre-Consolidation Common Shares owned by such shareholders will automatically
be adjusted as a result of the Consolidation to reflect the applicable number of post-Consolidation
Common Shares owned by them and no further action is required to be taken by such shareholders.
About Northern
Northern Shield is a Canadian-based company focused on generating high-quality exploration
programs with experience in many geological terranes. It is known as a leader in executing grass
roots exploration programs using a model driven approach. Seabourne Resources Inc. is a wholly-
owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in
Atlantic
Canada
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements, which relate to future events or future
performance and reflect management's current expectations and assumptions, including the
expected date that the post-Consolidation Common Shares will commence trading on the TSXV.
Such forward-looking statements reflect management's current beliefs and are based on
assumptions made by and information currently available to the Company. Investors are cautioned
that these forward-looking statements are neither promises nor guarantees, and are subject to risks
and uncertainties that may cause future results to differ materially from those expected. These
forward-looking statements are made as of the date hereof and, except as required under
applicable securities legislation, the Company does not assume any obligation to update or revise
them to reflect new events or circumstances except as required by applicable law. All of the
forward-looking statements made in this press release are qualified by these cautionary statements
and by those made in our filings with SEDAR in
Canada
(available at
www.sedar.com
).
SOURCE
Northern Shield Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/September2022/06/c3904.html
%SEDAR: 00007505E
For further information:
Northern Shield Resources Inc., Ian Bliss, President and CEO, Tel.: (613)
232-0459, Fax: (613) 232-0760, [email protected]
CO: Northern Shield Resources Inc.
CNW 18:39e 06-SEP-22