|By Marketwired .||
|March 14, 2014 05:00 PM EDT|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/14/14 -- Northisle Copper and Gold Inc. ("Northisle" or the "Company") (TSX VENTURE:NCX) announces that it has negotiated a loan agreement with certain insiders, pursuant to which $40,000 will be advanced to the Company, such advances to be considered secured loans accruing interest at a rate of 12% per annum to be calculated and paid semi-annually from the date of the advances.
As additional consideration for such advances, the Company has agreed to issue 160,000 "bonus shares" to the lenders pursuant to the provisions of the TSX Venture Exchange (the "Exchange") Policy 5.1, subject to the Company receiving acceptance from the Exchange.
Northisle is a Vancouver based junior resource company committed to the exploration and development of the North Island Copper-Gold Project on Northern Vancouver Island. The North Island Copper-Gold Project is situated approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu Deposit and five other partially explored copper-gold porphyry occurrences. The Company has a current resource estimate on the Hushamu Deposit which has been filed on Sedar. The project is 100% owned by Northisle.
For more information on Northisle and the Hushamu Deposit please visit the Company's website at www.northisle.ca.
On behalf of Northisle Copper and Gold Inc.
David M Douglas, CA, CFO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.
Northisle Copper and Gold Inc.