Canadian Shield Resources Ltd. (TSX VENTURE: EXP) recently announced it has completed the previously announced non-brokered private placement offering of 2,250,000 Units at $0.80 per Unit and an over allotment of 250,000 Units for gross proceeds of C$2,000,000.
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The private placement was substantially oversubscribed and the Company was forced to decline more than $3,000,000 subscribed for under the private placement after accepting subscriptions for 2,500,000 Units, the maximum number of Units that were price protected. The strike price was reserved with the TSX Venture Exchange on November 17, 2009. The 2,500,000 common shares issued under the private placement and any common shares issuable upon the exercise of the 1,250,000 Warrants and the 104,063 Compensation Warrants are subject to a 4 month regulatory hold period. Immediately following the closing of this financing,
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