New Carolin Gold Closes Flow Through Offering
Vancouver, Dec 29 2017 - New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD / OTCBB: LADFF) reports that it has closed on $200,000 of the up to $250,250 flow-through share offering (the "FT Offering") announced on December 18 and 27, 2017, issuing 5,714,286 flow-through common shares (the "FT Shares") in the capital stock of the Company at a price of $0.035 per FT Share. As previously announced, the TSX Venture Exchange (the "Exchange") has granted a waiver of its minimum $0.05 per share pricing with respect to the FT Offering in order to permit the closing to occur before the year end and ahead of the completion of the 10:1 consolidation, which is currently under Exchange review. Each FT Share will be designated as a flow-through share pursuant to the Income Tax Act (Canada). The proceeds from the FT Offering will be used to fund qualified Canadian Exploration Expenditures (CEE) work on the Company's Ladner Gold Project in southwestern British Columbia. All securities issued in connection with the FT Offering are subject to a statutory hold period of four months plus one day from their date of issuance in accordance with applicable securities legislation. There are no finder's fees being paid on the FT Offering.
Once the proposed consolidation is complete, the Company will continue with its unit offering of up to 5,000,000 units at a price of $0.25 per unit for gross proceeds of up to $1,250,000, as previously announced.
About New Carolin Gold
New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of its 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the Ladner Gold Project located near Hope, BC in the prospective and underexplored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin, Emancipation and Pipestem Mines, 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
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
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.
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