TORONTO, ON / ACCESSWIRE / June 4, 2015 / Silver Shield Resources Corp., (TSXV: SSR.H), (the "Corporation") announced today that it has commenced a non-brokered private placement financing to raise a maximum of Five Hundred Thousand Dollars ("$500,000.00") CDN by the sale of five million ("5,000,000") 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 Company for $0.15 for a period of 12 months from the closing date. The private placement is anticipated to close on or before June 30th, 2015. The common shares and warrants are subject to a 4 month hold period.
In connection with the offering, a finder's fee may be paid consisting of a cash commission equal to 8% of the gross proceeds raised under the offering and that number of non-transferable finder's fee warrants as is equal to 8% of the number of shares. Each finder's fee warrant will be exercisable into one common share of the Company at $0.15 per share for a period of 12 months from the closing date.
Net proceeds of the financing will be used for strategic acquisitions, development and for working capital. The private placement is subject to TSX Venture Exchange approval.
For further information please contact:
Mr. Frank Kordy
Interim CEO
Silver Shield Resources Corp.
T: (647) 466-4037
E: frank.kordy@silvershieldresources.net
Forward-Looking Statements
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.