Canadian Shield Closes Private Placement Financing
11 April 2008 - 11:54PM
Marketwired
TORONTO, ONTARIO ("Canadian Shield" or the "Company") is pleased
to announce it has completed a non-brokered expedited private
placement of 1,007,002 Units at a price of $0.15 per Unit for gross
proceeds of $151,050.
Each Unit is comprised of one common share and one-half
non-transferable Series O Warrant. Each whole Series O Warrant
("Warrant") entitles the holder to purchase one common share at an
exercise price of $0.25 for a period of 18 months from the date of
closing. The Warrant is callable, at the option of Canadian Shield,
four months after the date of closing in the event its common
shares trade at or over $0.50 per share for 10 consecutive trading
days.
The net proceeds from this private placement will be used for
working capital and general corporate purposes.
The selling agent will be paid a finder's fee of 10% of the
gross proceeds from the Units placed.
The 1,007,002 common shares issued under the private placement
and any shares issuable upon the exercise of the Warrants are
subject to a four month regulatory hold period. The closing of the
private placement is subject to the acceptance of the TSX Venture
Exchange.
Investors are invited to visit the Canadian Shield IR Hub at
http://www.agoracom.com/IR/CanadianShield where they can post
questions and receive answers or review questions and answers
already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to CSP@agoracom.com
where they can also request to be added to the investor e-mail list
to receive all future press releases and updates in real time.
About Canadian Shield Resources Inc. (TSX VENTURE: CSP)
Canadian Shield acquires and explores strategically-located
precious and base metal properties in South America. The Company
currently controls a portfolio of nine exploration properties
located in Peru and Chile. Canadian Shield will continue to focus
on project generation and joint venture opportunities to provide
shareholders with interests in a broad portfolio of South American
mineral properties. The Company's shares are listed on the TSX
Venture Exchange (Trading Symbol TSX VENTURE:CSP). Further
information is available at Canadian Shield's website:
www.canadianshieldresources.com.
STATEMENTS IN THIS PRESS RELEASE, OTHER THAN PURELY HISTORICAL
INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE
PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE
FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON
NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND
UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS
A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED
IN THE FORWARD-LOOKING STATEMENTS.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Canadian Shield Resources Inc. Bernard Kraft Chairman
& CEO (416) 927-0025 Ext. 30 or Toll Free 1-888-927-0025 (416)
927-1222 (FAX) Email: investor@canadianshieldresources.com Website:
www.canadianshieldresources.com Investor Relations AGORACOM
Investor Relations Email: CSP@Agoracom.com Website:
www.agoracom.com/IR/CanadianShield MI3 Mario Drolet President (514)
904-1333 (514) 904-2331 (FAX)
(TSXV:CSP)
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