Northisle Negotiates Loan Agreement
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
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.
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