OTTAWA, ON, June 28, 2022 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce the results of its annual and special meeting of shareholders that was held on June 21, 2022 (the "Meeting").
The four matters voted on at the Meeting were (1), the election of directors; (2) the appointment of Davidson and Co LLP as the Company's auditor for the coming year and the authorization of the directors of the Company to fix such auditors' remuneration; (3) the re-approval of the Company's rolling stock option plan; and (4) a share consolidation of the Company's outstanding common shares (the "Common Shares") at a ratio of not more than 5 for 1. All matters voted on at the Meeting were approved by the requisite number of votes including the consolidation which received 80% support from our shareholders. A further update will be provided by the Company when and if the Company determines to proceed with the share consolidation.
"Although we continue to monitor market conditions with respect to any consolidation, with our growing confidence of the epithermal gold system at Root & Cellar, a modest consolidation will help create, grow and sustain shareholder value as we prepare for the next phase of drilling."
- Ian Bliss, Northern Shield President and CEO
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential for epithermal gold deposits, and other mineralization at the Company's Root & Cellar Property, geological, geophysical and geometrical analyses of the properties and comparisons of the properties to known epithermal gold deposits and other expectations, plans, goals, objectives, assumptions, information or statements about future, conditions, results of exploration or performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.
Although Northern Shield believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward‑looking statements because Northern Shield can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Northern Shield and described in the forward‑looking statements or information. These risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and geophysical interpretation and analysis, the ability of Northern Shield to obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration and the general risks and uncertainties involved in mineral exploration and analysis.
The forward-looking statements or information contained in this news release are made as of the date hereof and Northern Shield undertakes no obligation to update publicly or revise any forward‑looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Northern Shield Resources Inc.
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