18:01:01 EDT Wed 08 May 2024
Enter Symbol
or Name
USA
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North Shore Uranium Ltd
Symbol NSU
Shares Issued 36,805,960
Close 2024-04-12 C$ 0.13
Market Cap C$ 4,784,775
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North Shore cancels Dig Media's investor relations deal

2024-04-12 17:15 ET - News Release

Mr. Brooke Clements reports

NORTH SHORE URANIUM ANNOUNCES TERMINATION OF INVESTOR RELATIONS AGREEMENT

North Shore Uranium Ltd. has terminated its agreement for the provision of an advertising and investor awareness campaign with Dig Media Inc., doing business as Investing News Network. The INN agreement was announced by the company on Nov. 3, 2023.

Pursuant to a private placement of subscription receipts that the company closed on Oct. 26, 2023, Dig Media subscribed for 333,333 common shares in the capital of the company at an issue price of 30 cents per share, or $100,000 in the aggregate. Dig Media paid the subscription price to the company on Oct. 26, 2023. The subscription receipts were converted to common shares on Oct. 31, 2023. Under the INN agreement, which was made Oct. 24, 2023, the company paid INN an upfront fee of $50,000 of the total $100,000 cost of the 12-month campaign.

The company terminated the INN agreement as it was not approved by the TSX Venture Exchange due to payment of the upfront fee and Dig Media's participation in the company's Oct. 26, 2023, private placement. INN has delivered sufficient services to the company to have earned the upfront fee, and no refund will be paid. No additional payments are owed to INN by North Shore.

About North Shore Uranium Ltd.

The near-term business objectives of North Shore are to become a major force in exploration for economic uranium deposits at the eastern margin of Saskatchewan's Athabasca basin, a Tier 1 jurisdiction for discovering new minable high-grade uranium deposits. The company will work to achieve those objectives by conducting exploration programs on its two properties, Falcon and the West Bear property, located 90 kilometres northeast of Falcon, and by evaluating opportunities to increase its portfolio of properties in the region.

We seek Safe Harbor.

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