Vancouver (pcJ News Briefs) – Northisle Copper and Gold Inc. (TSX-V: NCX) intends to raise up to $1,510,000 by way of a non-brokered private placement of up to 4,400,000 units at $0.15 per unit for up to $660,000 and up to 4,250,000 flow-through shares at $0.20 per FT share for up to $850,000.
Proceeds will be used by Northisle to finance a drilling program on its deep Red Dog and Hushamu extension targets, (forming part of its North Island Copper Gold Project on Vancouver Island), engineering studies and for general working capital.
The North Island Copper-Gold Project is situated approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu and Red Dog deposits and five other partially explored copper-gold porphyry occurrences. The project is 100% owned by Northisle.
photo credit: Northisle Copper and Gold