New Carolin Gold Corp. Completes Unit & Flow-Through Financings
Vancouver, Feb 1, 2018 - New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD / OTCBB: LADFF) is pleased to announce that it has completed its Unit private placement financing (the "Unit Offering") and its flow-through share offering (the "FT Offering"), both fully-subscribed, subject to final TSXV approval. Unit Offering
The Company has closed on the Unit Offering announced in December of 2017 and January 15, 2018, for gross proceeds of $1,250,000 by way of the private placement of 5,000,000 units ("Units") in the capital stock of the Company at a price of $0.25 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.35 per share for a period of 24 months from closing.
Proceeds from the Unit Offering will be used for development work on the Company's Ladner Gold Project in southwestern British Columbia, and for working capital and general corporate purposes. Finder's fees were paid on portions of the Unit Offering in accordance with TSX Venture Exchange regulations, as to up to 8% cash commission totaling $32,000 and up to 8% finder's warrants totaling 80,000 warrants, each warrant issued for a period of two years and exercisable on the same terms as the subscriber Unit warrants. All securities issued in connection with the placement are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.
FT Offering
The Company is pleased to announce that it has completed $249,700 of its up to $250,250 flow-through share offering (the "FT Offering") announced on December 18 and 27, 2017, issuing 713,428 flow-through common shares (the "FT Shares") in the capital stock of the Company at a price of $0.35 (post-consolidation) per FT Share.
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. There were finder's fees in the amount of $8,000 paid on the FT Offering. 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.
About New Carolin Gold
New Carolin Gold Corp. is a Canadian-based brownfields development company focused on the exploration, evaluation and development of its 100% owned Ladner Gold Project, consisting of 144 square kilometers of contiguous mineral claims and crown grants in the prospective and under-explored Coquihalla Gold Belt, located 2 hours by freeway from Vancouver near Hope, British Columbia. The Company has an existing mine permit, water licenses and tailings facility in place, as well as 10.5 kilometers of underground tunnels for exploration access. The Ladner Gold Project is host to several historic gold producers, including the Carolin Mine, Emancipation Mine, Arum Mine, Ward Mine, and Pipestem Mine, in addition to numerous artisan workings and gold prospects that typically exploit high grade visible gold mineralization.
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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