Northern Shield Resources Inc. announced a non-brokered private placement of 1,400,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 140,000, and 700,000 flow-through units at a price of CAD 0.125 per flow-through unit for gross proceeds of CAD 87,500; for aggregate gross proceeds of CAD 227,500 on September 11, 2023. Each unit consisting of one common share and one common share purchase warrant, with each warrant exercisable for one common share at a price of CAD 0.20 per share within 24 months of the closing. Each flow-through unit consisting of one flow-through common share and one-half of one common share purchase warrant, with each whole flow-through warrant is exercisable for one common share at a price of CAD 0.22 per share within 24 months of the closing.

The company paid an aggregate of CAD 1,250 in finders fees and issued 14,000 flow-through warrants in connection with the transaction. All the securities issued under the transaction are subject to restrictions on resale for a period of four months and a day from the date of closing. The transaction is subject to final approval of the TSX Venture Exchange.

The transaction included participation from 5 placees.