New Carolin To Issue Shares For Interest Payments & Loan Conversion
Vancouver, BC / TheNewswire / July 3 2015 -- New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD) announces that the Company is making application to pay the interest accrued to June 30, 2015 on both its 2011 and 2012 series Term Loans by way of the issuance of common shares of the Company in shares-for-debt transactions. Accrued interest totaling $35,585.10 will be settled with the various Holders by way of the issuance of 647,002 common shares of the Company at a deemed price of $0.055 per common share. Per contract, semi-annual interest payments on the Term Loans can be settled by the issuance of shares in lieu of cash under specific circumstances, as previously reported in a news release issued February 11, 2015. Shares issued pursuant to the shares-for-debt transactions are subject to a four month plus one day hold period from their date of issue.
Additionally, the Company reports that it will issue one million units ("Units") in its capital stock at a price of $0.05 per Unit, having received a notice of conversion of principal of $50,000 held by a 2012 Term Loan holder. Each Unit to be issued consists of one common share and one common share purchase warrant (the "Warrant"), each Warrant exercisable to acquire one additional common share of the Company at a price of $0.05 per share until the Term Loan maturity date of December 31, 2016. Per contract, Term Loan holders can convert principal amounts of their loans to the Company into Units at a conversion price of $0.05 per Unit until December 31, 2015 and thereafter at a price of $0.10 per Unit until Maturity, also as previously reported in the news release issued February 11, 2015.
About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our strategic 144 square kilometers of contiguous mineral claims, collectively known as the Ladner Gold Project. The project is located near Hope, BC, in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.
For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert L. Thast"
President & Chief Executive Officer
Phone: 604.542.9458
Cell: 604.220.5031
E-mail: ceo@newcarolingold.com
Web site: www.newcarolingold.com
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 the accuracy of this press release. We seek Safe Harbor.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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