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  • 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.

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