Northcliff Resources Ltd. (“Northcliff” or the “Company”) (TSX: NCF) announces, further to its June 23, 2022 news release, that it has settled the fourth (final) tranche of the $5,200,000 Loan 2 in the amount of $1,200,000 plus accrued interest (the “Loan”) by issuing 69,473,684 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 date for the fourth (final) tranche was December 2, 2022.
Todd is a subsidiary of the Todd Corporation, the Company’s largest shareholder. Todd now holds 439,058,144 shares or a 79.57% interest in Northcliff.