New Carolin Gold Corp. (TSX - V: LAD) announces today that it has received final acceptance from the TSX Venture Exchange for a non-brokered private placement of 400,000 flow-through shares at a price of C$0.05 per flow-through share for gross proceeds of C$20,000, all of which were purchased by a director of the Company. The private placement closed on December 31, 2013.
No finder's fees were paid in this private placement.
All of the securities issued under this private placement will be subject to a four-month hold period.
The proceeds from the sale of the flow-through shares will be used to incur Canadian Exploration Expense ("CEE"), as defined in the Income Tax Act (Canada). The Company will renounce such CEE to the subscriber effective for the 2013 tax year. The funds will be used for exploration on the Company's Ladner Gold Property in southwestern British Columbia.
About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior mineral exploration and development company engaged in the acquisition, exploration, evaluation and development of 144 sq kms of contiguous mineral claims, collectively known as the Ladner Gold Project, located along the prospective and under-explored Coquihalla Gold Belt located in southwestern British Columbia, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.
For further Company and technical information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Bruce W. Downing"
Bruce W. Downing, M.Sc., P.Geo., Hon.FEC
President & Chief Executive Officer
Phone 778 - 294 - 3211
Email [email protected]
Neither the 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 the accuracy of this press release. We seek Safe Harbor.
Not for distribution in the United States.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.