NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY
OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES
Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the
“Company”) is pleased to announce that it intends to raise
aggregate gross proceeds of approximately $1,918,240 pursuant to a
non-brokered private placement (the “Private Placement”) consisting
of 10,096,000 units (each a “Unit”) at a price of C$0.19 per Unit.
Each unit consists of one common share of the Company (each a
“Common Share”) and one half of one common share purchase warrant
of the Company (each a “Warrant”). Each Warrant is exercisable to
acquire one Common Share at an exercise price of $0.28 for a period
of two years from the date of closing of the Private Placement,
subject to acceleration in certain circumstances.
Proceeds from the Private Placement will be used for development
and exploration expenditures for the North Island Copper Gold
Project (the “North Island Project”) as well as general corporate
purposes.
Sam Lee, President and CEO, stated: “We are pleased to have
Michael and Pierre make this strategic investment in Northisle.
Since October 2020, Michael has built a significant position in the
Company driven by his conviction around the enormous value
opportunity that Northisle presents. Throughout the past year, I
have developed a great respect for Michael’s thought leadership and
know that this respect is shared by many within the capital markets
industry. Today’s investment is yet another endorsement of his
ongoing support and initiates a strategic relationship that will
contribute to Northisle’s attractive growth trajectory in 2022 and
beyond. We also welcome Pierre to the Northisle family as we look
forward to drawing on his vast mine building and operating
experience.”
Michael Gentile, CFA, added: “I’ve been an investor in NCX since
2020 as I believe that the North Island Project is a very buildable
mine trading at a small fraction of its economic value. The project
benefits from great infrastructure and Tier 1 location, large
scale, economic grades and robust PEA economics indicating strong
returns. In addition to the robust mine build economics and
attributes, the North Island project has significant untapped
exploration upside that with success could increase the mine life
well beyond the 20 years in the PEA and enhance the project
economics even further with potential high grade discoveries. Since
his appointment in October 2020 I’ve been very impressed with Sam
Lee’s leadership and his plan to unlock the significant value of
the North Island project for all shareholders and stakeholders and
I look forward to working alongside Sam as a strategic shareholder
to maximize the potential of the North Island Project.”
On closing of the Private Placement, Mr. Gentile will own
approximately 7.7% of the Company’s issued and outstanding Shares,
and on a partially-diluted basis (assuming full exercise of all of
his Warrants and no other issuance of Shares by the Company), Mr.
Gentile will own 9.9% of the Company’s issued and outstanding
Shares.
Mr. Gentile is considered one of the leading strategic investors
in the junior mining sector, owning significant top 5 stakes in
over 15 small-cap mining companies. Michael is currently a
strategic advisor to Arizona Metals (AMC-V) and a director of
Northern Superior Resources (SUP-V), Roscan Gold (ROS-V), Radisson
Mining Resources (RDS-V) and Solstice Gold (SGC-V). Michael
recently founded Bastion Asset Management and was previously a Vice
President and Senior Portfolio Manager with Formula Growth
Limited.
Mr. Beaudoin is a mining executive with over 36 years of
experience and has been the Chief Operating Officer of Silvercrest
Metals Inc. (SIL-T) since 2018. Previously, Pierre was the COO at
Detour Gold Corporation after starting as Senior VP of Capital
Projects. Previously, he worked for 16 years at Barrick, including
6 years in the Capital Projects Group, where he led the study teams
on Buzwagi, Donlin Creek and Cerro Casale. Before joining Barrick
in 1996, he worked for Lac Minerals Ltd. and Noranda Minerals.
The Private Placement is subject to the completion of formal
documentation and receipt of all necessary regulatory approvals,
including the approval of the TSX-V.
The Common Shares and Warrants issued pursuant to this Offering,
and any Common Shares issued upon exercise of the Warrants, will be
subject to a hold period expiring four months and one day from the
closing date of the Private Placement in accordance with applicable
Canadian securities laws.
About Northisle
Northisle Copper and Gold Inc. is a Vancouver-based company
whose mission is to become a leading and sustainable mineral
resource company for the future. Northisle owns the North Island
Project, which is one of the most promising copper and gold
porphyry deposits in Canada. The North Island Project is located
near Port Hardy, British Columbia on a 33,149-hectare block of
mineral titles 100% owned by Northisle stretching 50 kilometres
northwest from the now closed Island Copper Mine operated by BHP
Billiton. Northisle recently completed an updated preliminary
economic assessment for the North Island Project and is now focused
on advancement of the project through a prefeasibility study while
continuing exploration within this highly prospective land
package.
For more information on Northisle please visit the Company’s
website at www.northisle.ca.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Cautionary Statements regarding Forward-Looking
Information
Certain information in this news release constitutes
forward-looking statements under applicable securities law. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as “may”, “should”, “anticipate”, “expect”, “intend” and
similar expressions. Forward-looking statements in this news
release include, but are not limited to, statements relating to the
ability to complete the Private Placement on the proposed terms or
at all, anticipated use of proceeds of the Private Placement,
receipt of regulatory approvals with respect to the Private
Placement as well as any other future plans, objectives or
expectations of Northisle, including statements relating to the
prospects of Northisle and the North Island Project and the
Company’s plans and expectations for the advancement of the North
Island Project, including advancing the North Island Project
towards pre-feasibility and the Company’s anticipated exploration
activities. Forward-looking statements necessarily involve known
and unknown risks, including, without limitation, Northisle’s
ability to implement its business strategies; risks associated with
mineral exploration and production; risks associated with general
economic conditions; adverse industry events; stakeholder
engagement; marketing and transportation costs; loss of markets;
volatility of commodity prices; inability to access sufficient
capital from internal and external sources, and/or inability to
access sufficient capital on favourable terms; industry and
government regulation; changes in legislation, income tax and
regulatory matters; competition; currency and interest rate
fluctuations; and other risks. Readers are cautioned that the
foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release
represent the expectations of management of Northisle as of the
date of this news release, and, accordingly, are subject to change
after such date. Northisle does not undertake any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable securities law.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211213005323/en/
On behalf of Northisle Copper and Gold Inc.
Nicholas Van Dyk, CFA Chief Financial Officer Tel: (778)
655-9582 Email: info@northisle.ca www.northisle.ca
NorthIsle Copper and Gold (TSXV:NCX)
過去 株価チャート
から 12 2024 まで 1 2025
NorthIsle Copper and Gold (TSXV:NCX)
過去 株価チャート
から 1 2024 まで 1 2025
