FREDERICTON, June 22, 2017 /CNW/ - Northcliff Resources
Ltd. ("Northcliff") (TSX: NCF) announces that it has completed a
private placement, issuing 2,076,923 common shares at a price of
$0.13 per share for gross proceeds of
$270,000.
The common shares issued are subject to applicable resale
restrictions, including a four month hold period under Canadian
securities rules. The private placement is subject to TSX
approval.
The proceeds will be used to advance the Company's Sisson
Project and for general corporate working capital purposes.
About Northcliff Resources Ltd.
Northcliff, associated with Hunter Dickinson Inc. (HDI), is a
mineral resource company focused on advancing the Sisson
Tungsten-Molybdenum Project located in New Brunswick, Canada, to production.
The results of the Feasibility Study completed in January 2013 confirmed that the Sisson Project is
technically and economically feasible and can move on to the next
stage of development.
The Sisson Environmental Impact Assessment Report (the "EIA
Report") was submitted to both the federal Canadian Environmental
Assessment Agency ("CEAA") and the New Brunswick Department of
Environment and Local Government in July 2013. The Company
received provincial EIA Report approval on December 3, 2015. A federal decision from CEAA is
pending. Permit applications for construction and operation
will be finalized and submitted following a positive federal
decision.
Additional information on Northcliff is available on the website
at www.northcliffresources.com.
Bryce Hamming
Chief Financial Officer
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address the in-progress
Follow-on Financing, or other events that the Company expects, are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Investors
are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
For more information on the Company, investors should review the
Company's continuous disclosure filings that are available at
www.sedar.com.
No regulatory authority has approved or disapproved the contents
of this news release.
SOURCE Northcliff Resources Ltd.