Vancouver (pcJ News Briefs) – Northcliff Resources Ltd. (TSX: NCF) has closed a follow-on private placement financing of 35,491,129 common shares at $0.11 per share for gross proceeds of $3,904,024
Todd Corporation has exercised it pre-emptive right to participate in the financing, purchasing 12,887,612 of the issued common shares in the follow-on financing to maintain its 36.3% interest in Northcliff.
After closing of this financing, the Todd Corporation now holds 61,429,228 common shares of the total 169,169,637 outstanding shares of Northcliff.
Northcliff Resources Ltd., associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, to production.
photo credit: Northcliff Resources