Silver Shield Resources Corp., Announces Private Placement Offering, Closing of First Tranche of the Private Placement Offering & Completion of Shares for Debt Transaction
TORONTO, ON / CRWEPRESSRELEASE / September 22, 2015 /Silver Shield Resources Corp., (CVE:SSR.H), (the “Corporation”) announced today that it has commenced a non-brokered private placement financing to raise a maximum of Three Hundred & Forty-Five Thousand, Four Hundred Dollars (“$345,400.00″) CDN by the sale of Three Million Four Hundred and Fifty-Four Thousand (“3,454,000″) units of the Corporation at a price of $0.10 per unit. Each unit is comprised of one common share of the Corporation, and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the Corporation for $0.15 for a period of 12 months from the closing date. The common shares and warrants of this placement are subject to a four-month and one day statutory hold period.
In conjunction, the Corporation is pleased to announce that it has closed the First Tranche of this Private Placement offering. One Million, Nine Hundred and Sixty-Six Thousand (“1,966,000″) units have been sold for gross proceeds of One Hundred and Ninety-Six Thousand & Six Hundred Dollars (“$196,600.00″) CDN. No commission or finder’s fee is payable with respect to the closing of this tranche of the placement.
Furthermore, the Corporation announced today that it has received approval from the TSX Venture Exchange to issue Eight Hundred Thousand, Six Hundred and Twenty-Five (“828,625″) common shares at a deemed price of $0.10 per common share to settle certain debts owed to both arm’s length, and non-arm’s length, creditors totaling Eighty-Two Thousand, Eight Hundred & Sixty-Two Dollars & Fifty Cents (“$82,862.50″) CDN. The common shares of the shares for debt settlement are subject to a four month and one day statutory hold period.
For further information please contact:
Mr. Frank Kordy
Silver Shield Resources Corp.
T: (647) 466-4037
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or 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 legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE:Silver Shield Resources Corp.