Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) announces, further to its June 23, 2022 news release, that it has settled the first and second tranches of the $5,200,000 Loan 2 in the amount of $4,000,000 plus accrued interest (the “Loan”) by issuing 225,789,474 shares to Todd Sisson (NZ) Limited ("Todd"). The Loan was approved by disinterested shareholders at the Company’s extraordinary general meeting held on August 25, 2022. The drawdown dates for the first and second tranches of Loan were September 28, 2022 and October 19, 2022 respectively.
Todd is a subsidiary of the Todd Corporation, the Company’s largest shareholder. Todd now holds 369,584,460 shares or a 76.63% interest in Northcliff