New Dimension Resources Ltd. (TSXV: NDR) (the "Company" or "New Dimension") announces it has closed its non-brokered private placement totaling 1,315,000 Units (the "Units") at a price of $0.06 per Unit for proceeds of $78,900. Each Unit is comprised of one common share and one warrant. Each warrant entitles the holder to acquire one additional common share of New Dimension at a price of $0.15 per share for a period of 24 months immediately following the closing date. The warrants are subjected to an accelerated exercise provision if the share price of New Dimension trades at or above $0.25 for 10 or more consecutive trading days.
New Dimension also issued 37,500 Units as finder's fees in respect of purchasers of securities introduced to the Company by the finders.
Net proceeds of this private placement will be used to further the Company's exploration projects, fund possible new acquisitions and for general working capital.
The Units and the finder's fees units are subject to a four-month hold period which expires on September 5, 2015.
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 bulk tonnage gold and silver deposits. The Company is currently focused on its mineral projects in Canada with a priority directed toward the Midas gold property, located in north central Ontario. New Dimension also continues to aggressively review acquisition opportunities in the Americas that meet its exploration criteria.
ON BEHALF OF THE BOARD
NEW DIMENSION RESOURCES LTD.
"Fred G. Hewett"
Fred G. Hewett, P.Eng.
President & CEO
** 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.