TORONTO, ON / ACCESSWIRE / April 19, 2016 / Silver Shield Resources Corp., (CSE: SSR), (the "Corporation") announced today that it has closed the Third Tranches of its concurrent non-brokered Private Placement offerings. In total, One Hundred and Eighty-Four Thousand, Four Hundred Dollars ("$184,400.00") CDN was raised via the sale of Three Hundred and Eighty-Five Thousand ("385,000") units at $0.10 per unit, and via the sale of Fourteen Thousand Five Hundred and Ninety ("14,590") Series "A" Preferred Shares at $10.00 per share. No commission or finder's fee is payable with respect to the closing of this tranche of the placements. Each unit is comprised of one common share of the Corporation, and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of the Corporation for $0.15 for a period of 36 months from the closing date.
The Corporation also announced today that it has been granted conditional approval – subject to shareholder consent – by the Canadian Securities Exchange to implement the Corporation's proposed change of business from a "Mining & Exploration" company to a "Merchant Bank" and its proposed name change from "Silver Shield Resources Corp.", to "Gunpowder Capital Corp".
Shareholders are invited to view the Corporation's listing statement which outlines the Corporation's business plan, and serves as the basis for the Conditional Approval from the CSE. The listing statement can be viewed by visiting the Corporation's CSE corporate profile page at http://thecse.ca/en/listings/mining/silver-shield-resources-inc and by downloading the Listing statement itself entitled "SSR – Form 2A – Listing Statement For Gunpowder Capital Corp" which can be found under the "CSE Filings" archive module towards the bottom of the page.
Shareholders will be instructed as to how they can give their consent to the proposed changes as outlined in the listing statement shortly.
Mr. Frank Kordy stated: "Receiving conditional approval from the CSE is a corporate milestone event, and a very important step in allowing the Corporation the ability to fully diversify itself into strategic investments outside the mining sector. Management strongly feels that not being fully dependent on mining and exploration, will immediately bring stronger revenue growth and a better return to the Corporation's shareholders in a much quicker and consistent fashion."
For further information please contact:
Mr. Frank Kordy
Silver Shield Resources Corp.
T: (647) 466-4037
E: [email protected]
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Silver Shield Resources Corp.