White Rock, BC / ACCESSWIRE / April 10, 2014/ New Carolin Gold Corp. (TSX - V: LAD) announces today that, subject to regulatory approval, it has closed a non-brokered private placement of 1,970,000 Units at a price of C$0.05 per Unit for gross proceeds of C$98,500. Each Unit will consist of one Common Share and one Common Share Purchase Warrant. Each Warrant will be exercisable to acquire one additional Common Share of the Company at any time for a 12-month period from the date of issuance, at an exercise price of C$0.05 per share. The Company paid finder's fees of $7,700.
The securities issued under this private placement will be subject to a four-month hold period.
The proceeds from the sale of the Units will be used for general corporate purposes.
On April 10, 2014, subject to the approval of the TSX Venture Exchange, the Company granted a total of 2,200,000 stock options, of which 1,450,000 stock options were granted to directors. The stock options are exercisable into common shares of New Carolin Gold at an exercise price of C$0.05 per share. New Carolin Gold's common shares closed at C$0.04 on the TSX Venture Exchange on April 9, 2014.
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
"Robert L. Thast"
Interim President & Chief Executive Officer
Phone 778 - 294 - 3211 or cell phone: 604-220-5031
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.