Northern Shield Resources (TSE:NRN) has released an update.
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Northern Shield Resources has announced a private placement financing to raise $400,000 through the sale of 10 million units, each consisting of one common share and one purchase warrant. The funds will be directed towards working capital and exploration activities at the Root & Cellar Property. A director’s involvement in the transaction constitutes a related party transaction, but the company is exempt from certain regulatory requirements due to the transaction’s size.
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