Brossard (Quebec) / ACCESSWIRE / July 31, 2014 / Nippon Dragon Resources Inc. (the "Corporation" or "Nippon") (TSX-V Symbol: NIP), is pleased to announce that it has closed a non-brokered private placement. The private placement is for 704,507 units of the Corporation at a price of $0.075 per unit (the "Units") for gross proceeds to the Corporation of $52,838.03 Each Unit consist of one common share in the capital of the Corporation (a "Common Share") and one common share purchase warrant of the Corporation (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional common share in the capital of the Corporation at a price of $0.115 per common share for a period of 24 month following the closing date.
All securities issued in connection with the Private Placement are subject to a four-month and one-day hold period from the date of issuance, expiring on December 01st, 2014. No commissions were paid.
The Corporation intends to use the proceeds of the Private Placement for surface work on the Corporation's Rocmec 1 property
Nippon is active in the exploration and the development of gold resources in Quebec and Peru. The Corporation holds a gold property with resources recognised in accordance with NI43-101, a modular treatment plant and also an exclusive license for the Thermal Fragmentation mining method for exploiting narrow-vein ore deposits.
The company's growth strategy is based on:
-- The development of its gold deposits with the objective of producing revenue from its operations;
-- Increasing the value of its mining assets by prioritizing the exploration targets; and
-- The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations (514) 718-7976 [email protected]
Andre Savard, President & CEO (450) 510-4442 [email protected]
Neither 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 accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.nippondragon.com
SOURCE: Nippon Dragon Resources Inc.