Northern Shield Announces Warrant Extension
Northern Shield Announces Warrant Extension
OTTAWA, ON
,
Nov. 30, 2021
/CNW/ -
November 30
, 2021 - Northern Shield Resources Inc.
("Northern Shield" or the "Company") (TSXV: NRN) announces that the Company intends to extend
the exercise period of a total of 7,287,963 share purchase warrants, all of which are exercisable at
$0.10
per common share (collectively, the "Warrants"). The Warrants were issued pursuant to a
private placement which closed on
December 9, 2019
. The Company proposes to extend the expiry
dates for these Warrants by an additional six months and accordingly, the new expiry dates for the
Warrants will be
June 9, 2022
.
All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject
to acceptance by the TSX Venture Exchange.
A total of 1,087,963 Warrants are held by parties who are considered to be "related parties" of the
Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as
contemplated by Multilateral Instrument 61-101
Protection of Minority Shareholders in Special
Transactions
, and TSXV Policy 5.9 - Protection of Minority Shareholders in Special Transactions.
However, the exemptions from formal valuation and minority approval requirements provided for by
these guidelines can be relied upon as the fair market value of the Warrants does not exceed 25%
of the market capitalization of the Company. A material change report in respect of this related party
transaction will be filed by the Company
.
About Northern
Northern Shield Resources Inc. 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
acceptance of the extension to the term of the warrants by the TSX Venture Exchange. 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/November2021/30/c4542.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 08:30e 30-NOV-21