(NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES)
Private Placement Oversubscribed
Vancouver, B.C. — Northisle Copper and Gold Inc. (“Northisle” or the “Company“) announces that it has closed the non-brokered private placement originally announced on May 21, 2014 for total proceeds of $786,000.
The private placement consisted of the sale by Northisle of the following securities:
- 4,860,000 flow-through shares at a price of $0.05 per share, for aggregate subscription proceeds of $243,000; and
- 10,860,000 units at a price of $0.05 each, for aggregate subscription proceeds of $543,000, with each unit consisting of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.07 until June 27, 2016.
All of the securities issued pursuant to this private placement are subject to a hold period in Canada which will expire on October 28, 2014.
The proceeds from this private placement will be used for continued exploration of Northisle’s North Island Project on Vancouver Island and for general corporate purposes.
For more information on Northisle and the Hushamu Deposit please visit the Company’s website atwww.Northisle.ca.
On behalf of Northisle Copper and Gold Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.