SILVER SHIELD RESOURCES CORP. COMPLETES NON-BROKERED PRIVATE PLACEMENT TO RAISE $250,200
ISSUES SHARES FOR DEBT
BURLINGTON, ON, Jan. 25 /CNW/ - Silver Shield Resources Corp. (TSX-V:
SSR) (the "Company") is pleased to announce that it has completed a
non-brokered private placement (the "Private Placement") to raise $250,200
through the issuance of 4,170,000 2011 flow-through units (each a
"Flow-Through Unit"). Each unit consists of one common share in the capital of
the Company, issued at $0.06 per Flow-Through Unit on a flow-through basis
under the provisions of the Income Tax Act (Canada), and one-half common share
purchase warrant. Each full warrant has a term of 24 months from the date of
issuance (the "Expiry Date") and entitles the holder to purchase one common
share of the Company at an exercise price of $0.15 per share at any time until
the Expiry Date.
The Company is now sufficiently funded to undertake its exploration plans
on the Welsh Silver Mine Project, Elk Lake, Ontario, the Lost Dog Gold
Project, Timmins, Ontario and in connection with exploration of any additional
projects the Company may acquire.
The Company paid a finder's fee to arm's length parties in connection
with the Private Placement, in cash and/or securities of the Company, in
accordance with the policies of the TSX Venture Exchange.
The company is also pleased to announced that it has issued 1,436,700
shares for debt previously announced on December 23, 2010 and has therefore
extinguished $ 161,997 of debt from it's books. The company is pleased that
the shares issued was at prices over market and thanks the debtors for their
show of confidence in the company and it's efforts.
We seek Safe Harbour.
ON BEHALF OF THE BOARD
SILVER SHIELD RESOURCES CORP.
"Tim Towers" (signed)
Tim Towers, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined on the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Company
Management, which takes full responsibility for content, prepared this news
release. In order to proceed fully with the Company's exploration and
acquisition plans, additional funding may be necessary and, depending on
market conditions, this funding may not be forthcoming on a schedule or on
terms that facilitate the Company's plans.
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