Northisle Copper and Gold Inc. (TSXV: NCX) has announced that a total of 5,048,000 warrants issued on 17 December 2021 have been exercised by Michael Gentile and Pierre Beaudoin for gross proceeds of C$1,413,440.
These funds will be used to accelerate development of the North Island Project including technical and economic studies. Adjusting for warrant proceeds, the company had C$9M in cash and cash equivalents as of 31 December 2023 (unaudited), with no debt and no additional warrants outstanding.
Sam Lee, president, and CEO of Northisle, stated “We are pleased to have the continued support of Michael Gentile and Pierre Beaudoin, who have fully exercised their warrants as of today. We are fully financed for our 2024 development programme with a clean capital structure and no debt, positioning us favourably to execute our growth plans. The ongoing support of our cornerstone shareholders is critical to our success.”
Michael Gentile added “Northisle is one of the very few companies in the market which has consistently added value over the last several years and is one of my largest holdings. With the new resource at Northwest Expo further demonstrating the inherent value of this highly prospective land package, and the company’s strong financial position, it is time for investors to start capitalizing on the incredible value in the junior resource sector, starting with Northisle.”
To find out more, please visit www.northisle.ca
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