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Northern Shield Announces Upsize to Previously Announced Private Placement
Published : May 03, 2013
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Northern Shield Announces Upsize to Previously Announced Private Placement


OTTAWA, May 3, 2013 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") (TSXV: NRN) is pleased to announce that it intends to increase the size of its previously announced brokered private placement financing from C$1.5 million to C$2.0million (the "Brokered Offering"), for total gross proceeds of C$2.7 million including the previously announce C$700,000 non-brokered private placement (together with the Brokered Offering, the "Offerings").  Macquarie Capital Markets Canada Ltd., as sole agent (the "Agent"), is conducting the Offering on a reasonable commercial efforts basis on the same terms as announced on April 22, 2013.

The net proceeds from the Offerings will be used to fund further exploration and development activities at Northern Shield's Ikertoq property in Greenland where Northern Shield has an option to earn a 50% interest, exploration at its 49% owned Wabassi property in northern Ontario and for general corporate purposes.

It is expected that the closing of the Offerings will occur on or about May 9, 2013 (the "Closing Date") subject to the satisfaction of certain conditions, including the approval of the TSX Venture Exchange.

Northern Shield is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) and nickel-copper-PGE exploration in Canada and Greenland and, copper-zinc-silver exploration on its Wabassi and Storm properties in northern Ontario. Its mission is to create a successful mineral exploration company through technical excellence and efficient management, where success is measured by the identification and development of high-quality mineral exploration projects, which may ultimately be optioned, sold or developed for maximum return on investment. For further information on Northern Shield and its properties, please visit our website.

This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction.  The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States or to a U.S. person absent registration or an applicable exemption from U.S. registration requirements.  "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S. Securities Act.

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.


For further information:

Northern Shield Resources Inc.
Ian Bliss President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760

Renmark Financial Communications Inc.
Barry Mire:
Tel.: (514) 939-3989 or (416) 644-2020

Companies Mentionned : Macquarie | Shield | Total |
Data and Statistics for these countries : Canada | Greenland | All
Gold and Silver Prices for these countries : Canada | Greenland | All

Northern Shield Resources Inc.

ISIN : CA6657201084
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Northern Shield Res. is an exploration and palladium company based in Canada.

Northern Shield Res. holds various exploration projects in Canada.

Its main exploration properties are WABASSI, FAINT HOPE, FRIDAY CREEK and HIGHBANK LAKE in Canada.

Northern Shield Res. is listed in Canada and in Germany. Its market capitalisation is CA$ 3.2 millions as of today (€ 3.0 millions).

Its stock quote reached its highest recent level on July 05, 2013 at CA$ 0.35, and its lowest recent point on February 27, 2015 at CA$ 0.02.

Northern Shield Res. has 158 620 000 shares outstanding.

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Nominations of Northern Shield Resources Inc.
11/16/2012Announces Appointment of Director
Project news of Northern Shield Resources Inc.
6/7/2011(Wabassi)Northern Shield increases land holdings at Wabassi, 7,700 li...
6/6/2011(Wabassi)increases land holdings at Wabassi, 7,700 line kilometers of...
Corporate news of Northern Shield Resources Inc.
11/9/2015Northern Shield Outlines Significant Cu-(Ni-PGE) Mineralizat...
9/23/2015Northern Shield Completes Financing for Gross Proceeds of $3...
6/11/2015Northern Shield Identifies Extensive Cu-(Ni-PGE) Mineralizat...
5/26/2015Identifies Pb-Zn SEDEX Target in Labrador Trough, Quebec
5/26/2015Northern Shield Identifies Pb-Zn SEDEX Target in Labrador Tr...
5/20/2015Northern Shield Provides Update on Activities, Mobilizes Exp...
12/4/2014Northern Shield Focuses in on Noril'sk-type Ni-Cu-PGE Massiv...
9/8/2014Continues to Expand PGEs at Idefix, Quebec
9/8/2014Northern Shield Continues to Expand PGEs at Idefix, Quebec
7/14/2014Northern Shield Completes Reconnaissance of PGE Targets in L...
6/19/2014(Wabassi)Discovery Harbour Granted Option to Acquire Additional 49% I...
6/19/2014Discovery Harbour Granted Option to Acquire Additional 49% I...
6/19/2014Northern Shield Receives $1.4 Million Cash and Royalties Thr...
4/1/2014Wabassi Joint Venture Partner Comments on the Agreement betw...
1/15/2014(Wabassi)Discovery Harbour Reports the Results of the Fall, 2013 Dril...
12/11/2013(Wabassi)Discovery Harbour Reports the Completion of the Fall, 2013 D...
8/29/2013Provides Updates on Idefix and Ikertoq properties; Intersect...
7/29/2013Commences Drilling for PGEs at Idefix, northern Quebec
6/13/2013Prepares to Mobilize to Greenland
5/15/2013(Wabassi)Intersects Gold Veinlet at Wabassi - Drilling to Resume to T...
5/9/2013Announces Closing of Upsized C$2.7 Million Financing
4/22/2013Announces up to C$2.2 million Financing
2/26/2013Obtains Right to Earn 50% Interest in the Ikertoq Nickel Pro...
12/14/2012intersects Visible Gold and Significant Silver Mineralizatio...
11/15/2012Completes Financing for Gross Proceeds of $1.7 million
11/6/2012Announces Drilling Underway at Tempest Property, Northern ...
9/14/2012Finds 16.2 g/t PGEs+Au over 1 meter at Idefix Property, ...
7/18/2011Acquires Two New PGE Properties in the Labrador Trough, ...
6/29/2011Completes Private Placement for Gross Proceeds of $2.5 m...
6/2/2011(Highbank Lake)to Drill Highbank Lake
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