Silver Shield Resources Corp., Closes the First Tranche of its Previously Announced Private Placement
Toronto, Ontario--(Newsfile Corp. - July 24, 2015) - Silver Shield Resources Corp., (TSXV: SSR.H), (the "Corporation") announced today the closing of the first tranche of its non-brokered private placement which was announced on June 4th, 2015. One Million Five Hundred and Forty-Nine Thousand Six Hundred ("1,549,600") units were sold for gross proceeds of One Hundred and Fifty-four Thousand Six Hundred Dollars ("$154,600.00") CDN.
No commission or finder's fee is payable with respect to this tranche of the placement. Each unit is comprised of one common share of the Corporation and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the Corporation for $0.15 for a period of 12 months from the closing date.
The shares and warrant shares issued under this tranche of the private placement are subject to a four-month-and-one-day hold period expiring on Nov. 25th, 2015, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. The warrants have an expiry date of July 24th, 2016.
For further information please contact:
Mr. Frank Kordy
Interim CEO
Silver Shield Resources Corp.
T: (647) 466-4037
E: frank.kordy@silvershieldresources.net
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
— 30 —
