New Destiny Mining Corp. Arranges $750,000 Financing
17.01.2012 | Marketwire
VANCOUVER, Jan. 17, 2012 - New Destiny Mining Corp. (TSX VENTURE:NED) (the "Company") announces it has arranged a non-brokered private placement of 5,000,000 units at $0.15 per unit (the "Units") for gross proceeds of $750,000. Each Unit will consist of one common share and one-half of one transferable share purchase warrant (the "Warrant"). One whole Warrant will entitle the holder to purchase one common share at $0.25 for a period of 24 months from the date of closing.A finder's fee may be paid on a portion of the placement in accordance with the policies of the TSX Venture Exchange. The finder's fee will consist of (i) 6% cash or, at the election of the finder, Units, and (ii) 6% warrants, each warrant entitling the holder to purchase one common share of the Company at a price of $0.25 for a period of 24 months from the date of closing.
All securities to be issued in conjunction with this financing will be subject to a restrictive hold period ending four months and one day following the closing date.
The proceeds from the financing will be used for general working capital, project opportunities and project advancement.
Closing the financing is subject to certain conditions, including the acceptance of the financing by the TSX Venture Exchange.
NEW DESTINY MINING CORP.
Robert Laird Birmingham
President
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 ACURRACY OF THIS RELEASE.
Contact
New Destiny Mining Corp.
Robert Laird Birmingham, President
604-608-6611
rob@newdestinymining.com
www.newdestinymining.com