SSR

BURLINGTON, ON, Feb. 23 /CNW/ -- BURLINGTON, ON, Feb. 23 /CNW/ - Silver Shield Resources Corp. (TSX-V: SSR) (the "Company") is pleased to announce that it has completed a non-brokered private placement (the "Private Placement") to raise $540,000 through the issuance of 10,800,000 non flow-through units. Each unit consists of one common share in the capital of the Company, issued at $0.05 per Unit, and one common share purchase warrant. Each full warrant has a term of 24 months from the date of issuance (the "Expiry Date") and entitles the holder to purchase one common share of the Company at an exercise price of $0.10 per share for a period of six months, and at that time if not exercised, at a price of $ 0.15 at any time for a further 18 months. As per security rules the shares are subject to a four month hold period. The Company paid a finder's fee to arm's length parties in connection with the Private Placement, in cash and/or securities of the Company, in accordance with the policies of the TSX Venture Exchange. Insiders:  Tim D. Towers   500,000 shares Pro Group: Joseph Zenha   100,000 shares The Company plans to use the funds for working capital purposes and to immediately initiate its plans to expand and enhance its presence in Mexico.  The Company continues to hold paramount its goal to develop its properties into small to mid size production operations, and continues to source Mexican projects that can be brought to production in the short to near term.  We seek Safe Harbour. ON BEHALF OF THE BOARD SILVER SHIELD RESOURCES CORP. "Tim Towers" (signed) Tim Towers, Chief Executive Officer Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined on the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Company Management, which takes full responsibility for content, prepared this news release. In order to proceed fully with the Company's exploration and acquisition plans, additional funding may be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2011/23/c5398.html table border="0"trtd colspan="2"please visit a href="http://www.silvershieldresources.com"www.silvershieldresources.com/a or contact:/td/tr trtd colspan="2"bSilver Shield Resources Corp./b/td/tr trtd colspan="2"Tim Towers, Chief Executive Officer, Phone: 289-337-6162/td/tr trtd nowrap="nowrap" colspan="2"Donald Shaxon, Manager of Corporate Development, (289) 838-5936 /td/tr trtdFax: 289-337-6678   br/ Phone: 289-337-6162    /td tda href="mailto:silvershield@cogeco.net"silvershield@cogeco.net/abr/ Fax:  289-337-6678/td/tr/table

Copyright