• Golden Shield Resources (GSRI) has announced a non-brokered private placement financing for gross proceeds of up to C$4,400,000
  • The company will issue up to 8,000,000 units priced at $0.55 per unit
  • Proceeds will be used for exploration and working capital purposes
  • The company has three gold projects in Guyana: Marudi Mountain, Arakaka and Fish Creek
  • Golden Shield Resources Inc. (GSRI) is unchanged on the day, trading at C$0.50 per share at 1:15 pm ET

Golden Shield Resources (GSRI) has announced a non-brokered private placement financing for gross proceeds of up to C$4,400,000.

The company will issue up to 8,000,000 units priced at $0.55 per unit.

Each unit includes one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share for a period of 24 months following the closing date of the offering.

The warrants are subject to an acceleration clause.

Closing of the financing is subject to receipt of all necessary approvals, including the Canadian Securities Exchange. All securities issued will be subject to a four-month statutory hold period.

Proceeds will be used for exploration and working capital purposes.

Golden Shield Resources is a gold-exploration company focused on three, 100 per cent owned, exploration projects in Guyana: Marudi Mountain, Arakaka & Fish Creek.

Golden Shield Resources Inc. (GSRI) is unchanged on the day, trading at C$0.50 per share at 1:15 pm ET.

More From The Market Online

Luca Mining reveals high-grade gold zones at Tahuehueto Mine

Luca Mining (TSXV:LUCA) reveals new high-grade gold mineralization off the main Creston vein at its Tahuehueto Gold Mine in Mexico.

Aston Bay unearths thick new copper zones in Nunavut

Aston Bay Holdings Ltd. (TSXV:BAY) provides an update on results from drilling activities at its Storm Copper Project.

Rock Tech notches approvals for German lithium refinery

Rock Tech Lithium (TSXV:RKC) reveals it has received the full permits for its planned lithium refinery in Guben, Germany.

Tilray Brands seeks US$250M for U.S. cannabis expansion

Global cannabis stock Tilray Brands (TSX:TLRY) intends to raise up to US$250 million to fund its U.S. expansion plan.