New Dimension Resources Ltd. (TSXV: NDR) (the "Company" or "New Dimension") announces the close of the non-brokered private placement announced on November 16th, 2016. A total of 1,015,000 Units at a price of $0.10 per Unit have been issued in this final tranche of the non-brokered placement bringing the gross proceeds of the entire financing to $722,500. An aggregate of 6,325,000 Units and 692,311 flow-through common shares were issued in the financing.
Each Unit from the second tranche issued is comprised of one common share and one-half warrant. Each whole warrant will entitle the holder to acquire one common share of New Dimension at a price of $0.20 per share until February 7, 2019. The warrants will be subjected to an accelerated exercise provision if the share price of New Dimension trades at or above $0.50 for 10 or more consecutive trading days.
All securities issued in connection with the second tranche private placement are subject to a four month hold period and may not be traded until June 8, 2017.
About New Dimension Resources Ltd.:
New Dimension is engaged in the acquisition, exploration and development of quality mineral resource properties throughout the Americas with a focus on potential gold and silver deposits. The Company is currently focused on mineral projects in Canada with a priority directed toward the Savant Lake gold property in Ontario.
ON BEHALF OF THE BOARD
NEW DIMENSION RESOURCES LTD.
"Fred G. Hewett"
Fred G. Hewett, P.Eng.
President & CEO
Nancy Curry at (604-220-2971) or Fred Hewett/Wayne Johnstone at (604-563-4807)
** INTERNET ADDRESS: www.newdimensionresources.com ** Email: email@example.com
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 accuracy of this news release.
This news release may contain forward looking statements which are not historical facts, such as statements of belief of similarity of geological characteristics or features, statements of unverified drilling and sampling results and expectations of receipt of permits and plans for future work. Forward looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, unexpected geological factors, exploration results, results of verification work and unanticipated regulatory obstacles. See New Dimension's filings for a more detailed discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any 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.