VANCOUVER, BC, Jan. 23,
2024 /CNW/ - Northcliff Resources Ltd.
("Northcliff" or the "Company") (TSX: NCF) is pleased to announce
that it has arranged a non-brokered private placement (the "Private
Placement") of 37,333,333 common shares of the Company ("Common
Shares") at a price of $0.01875 per
Common Share with the Todd Sisson (NZ) Limited ("Todd") for gross
proceeds to the Company of $700,000.
Todd currently owns a total of 439,058,144 Common Shares in the
capital of Northcliff, and after its participation in the Private
Placement will hold 476,391,477 Common Shares or an 80.86% interest
in the Company. The Common Shares issued are subject to applicable
resale restrictions, including a hold period of four months and one
day from the closing of the Private Placement under Canadian
securities rules. The Private Placement is subject to customary
closing conditions including final Toronto Stock Exchange approval.
Proceeds of the Private Placement will be used to fund the
Company's share of expenditures related to the Sisson Project and
for working capital and general corporate purposes.
About Northcliff Resources
Ltd.
Northcliff is a mineral resource company focused on advancing
the feasibility-stage Sisson Tungsten-Molybdenum Project located in
New Brunswick, Canada, to
production.
Additional information on Northcliff is available on the
website at www.northcliffresources.com.
On behalf of the Board of Directors
Andrew Ing
President & CEO
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
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.sedarplus.ca.
SOURCE Northcliff Resources Ltd.
