Vancouver, B.C. – Northisle Copper and Gold Inc. (TSX-V:NCX)(“Northisle” or the “Company”) announces that it has closed the private placement announced on October 22, 2019. Closing consisted of the issuance of 1,500,000 flow-through common shares at a price of $0.08 per share, for total consideration of $120,000.
Northisle paid a cash finders’ fee of $6,000 in connection with this private placement to BMO Nesbitt Burns.
All of the securities issued pursuant to this private placement, including any shares issued pursuant to the exercise of the share purchase warrants forming part of the units, are subject to a hold period which expires on March 7, 2020.
The proceeds will be used by Northisle to finance additional metallurgical testing with the intent of improving recoveries, which could have a positive impact on the economics of the project.
For more information on Northisle please visit the Company’s website at www.Northisle.ca.
On behalf of Northisle Copper and Gold Inc.
John McClintock, P. Eng
President, CEO and Director
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.