Funds earmarked for exploration, acquisitions, general working capital
By Devika Patel
Knoxville, Tenn., Feb. 23 - New Dimension Resources Ltd. said it has arranged a non-brokered private placement of units. The deal will raise C$1.2 million.
The company will sell 6 million units of one common share and a warrant at C$0.20 apiece.
Each warrant is exercisable at C$0.30 for one year. The strike price reflects a 42.86% premium to the closing share price of C$0.21 on Feb. 22.
Proceeds will be used to further the company's exploration projects, for possible acquisitions and for general working capital.
The gold and silver explorer is based in Vancouver, B.C.
| Issuer: | New Dimension Resources Ltd.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1.2 million
|
| Units: | 6 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 23
|
| Stock symbol: | TSX Venture: NDR
|
| Stock price: | C$0.21 at close Feb. 23
|
| Market capitalization: | C$8.47 million
|
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