VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/20/13 -- Northisle Copper and Gold Inc. (TSX VENTURE: NCX) ("Northisle" or the "Company") has engaged Mr. Reg Advocaat to provide investor relations and capital markets advisory services effective February 20, 2013. Mr. Advocaat has 30 years of experience in the junior resource sector beginning in 1982 as an investment advisor and later as Head Trader and junior partner with Pacific International Securities Inc. He has spent the past 20 years working with various public companies in the roles of Investor Relations and Corporate Development and most recently as a Capital Markets Advisor, President and CEO of a junior resource company listed on the TSX-Venture Exchange.
Mr. Advocaat will assist with the creation, co-ordination and implementation of Northisle's investor relation plan while introducing Northisle to private investors, analysts, brokers, money managers, newsletter writers and other financial professionals. The agreement with Mr. Advocaat is subject to TSX Venture Exchange approval.
Mr. Advocaat has been engaged on a month-by-month basis at a monthly fee of $5,000 and will be granted a stock option to purchase up to 200,000 common shares of Northisle for a period of five years at a price of $0.15 per share. The options will vest over two years in accordance with the Company's stock option plan and the policies of the TSX Venture Exchange.
The Company also wishes to announce that it intends to raise up to $300,000 by way of a non-brokered private placement, to consist of the sale of up to 2,500,000 flow-through shares at a price of $0.12 per share.
The proceeds from this private placement, which is subject to regulatory acceptance, will be used for continued exploration of Northisle's North Island Project on Vancouver Island. Closing is expected to occur by March 1, 2013.
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 recently announced a 43-101 compliant resources 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.
John McClintock, President, CEO and Director
This press 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.
Neither 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 release.
Northisle Copper and Gold Inc.
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