FUNDING: Northern Shield to get $2.5-M boost from HudBay

OTTAWA  - Northern Shield Resources has entered into private placement with HudBay Minerals of Toronto. HudBay will buy 11.3 million units of Northern Shield at a price of $0.22/unit for gross proceeds will be $2.5 million. When the deal...

OTTAWA  - Northern Shield Resources has entered into private placement with HudBay Minerals of Toronto. HudBay will buy 11.3 million units of Northern Shield at a price of $0.22/unit for gross proceeds will be $2.5 million. When the deal closes, HudBay will own 9.9% of Northern Shield.

Each unit consists of one common share and one half of one share purchase warrant. Each whole warrant is exercisable for one common share at a price of $0.40 per share for a period of 24 months after closing. The deal is subject to customary closing conditions and approval by the TSX Venture Exchange.

Northern Shield has discovered a "significant" new volcanogenic massive sulphide camp in northern Ontario. The VMS mineralization contains high grades of copper, zinc and silver. The company holds interests in several other prospective properties in Ontario's Ring of Fire and in northern Quebec.

Learn more at Northern-Shield.com.

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