Non-brokered deal funds work on company's properties, working capital
By Devika Patel
Knoxville, Tenn., Oct. 12 - New Destiny Mining Corp. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.10 per unit, with each warrant exercisable at C$0.20 for two years. The strike price is a 150% premium to C$0.08, the Oct. 11 closing share price.
Proceeds will be used for work on the company's mineral properties and for general working capital.
Logan, based in Vancouver, B.C., is a gold, copper and uranium exploration company.
| Issuer: | New Destiny Mining Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 12
|
| Stock symbol: | TSX Venture: NED
|
| Stock price: | C$0.08 at close Oct. 11
|
| Market capitalization: | C$1.17 million
|
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