Northcliff Resources Ltd. (“Northcliff” or the “Company”) (TSX: NCF) is pleased to announce that it has arranged a non-brokered private placement (the “Private Placement”) of 37,333,333 common shares of the Company (“Common Shares”) at a price of $0.01875 per Common Share with the Todd Sisson (NZ) Limited (“Todd”) for gross proceeds to the Company of $700,000. Todd currently owns a total of 439,058,144 Common Shares in the capital of Northcliff, and after its participation in the Private Placement will hold 476,391,477 Common Shares or an 80.86% interest in the Company. The Common Shares issued are subject to applicable resale restrictions, including a hold period of four months and one day from the closing of the Private Placement under Canadian securities rules. The Private Placement is subject to customary closing conditions including final Toronto Stock Exchange approval. Proceeds of the Private Placement will be used to fund the Company’s share of expenditures related to the Sisson Project and for working capital and general corporate purposes.
top of page
bottom of page