Non-brokered offering's proceeds are earmarked for exploration
By Devika Patel
Knoxville, Tenn., Feb. 16 - New Dimension Resources Ltd. said it arranged a C$1.5 million non-brokered private placement of units.
The company will sell 15 million units of one common share and a half-share warrant at C$0.10 per unit.
Each warrant is exercisable at C$0.20 for one year. The strike price reflects a 100% premium to the closing share price of C$0.10 on Feb. 15.
Proceeds will be used for exploration.
The gold and silver explorer is based in Vancouver, B.C.
| Issuer: | New Dimension Resources Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 16
|
| Stock symbol: | TSX Venture: NDR
|
| Stock price: | C$0.10 at close Feb. 15
|
| Market capitalization: | C$4.72 million
|
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