Silver Shield Resources Corp. Loans Funds to Cardiff Energy Corp.
19.02.2016 | Newsfile
Toronto, February 19, 2016 - Silver Shield Resources Corp. (CSE: SSR) (the "Corporation"), announced today that it has loaned One Hundred and Fifty Thousand Dollars ("$150,000.00") CDN to Cardiff Energy Corp. (TSXV: CRS) ("Cardiff"). Cardiff will use the proceeds of the loan to acidize their Clayton #1H well located in the state of Texas.The loan is secured by a first ranking General Security Agreement on the assets of Cardiff including its US operations.
The loan bears an interest rate of 24% per annum and is repayable in twelve equal monthly instalments beginning 30 days from the date of funding. Furthermore, Cardiff has also granted the Corporation 250,000 stock options at a price of $0.05 and a 1.25% gross overriding royalty on the Clayton #1H well.
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 CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release.
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