New Carolin Gold Completes $225,750 Unit Private Placement & Announces Debt Conversion
Vancouver, BC / TheNewswire / August 25, 2015 - New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD): Further to its news releases of June 23 and July 8, 2015, the Company is pleased to announce that it has completed its non-brokered private placement of 4,515,000 units in the capital of the Company at a price of $0.05 per Unit for gross proceeds of $225,750. Each Unit consists of one Common Share and one Common Share Purchase Warrant, with each Warrant exercisable to acquire one additional Common Share of the Company at any time for a 24-month period from the date of issuance at a price of $0.08 per share. The Company paid aggregate finder's fees of $5,250 on portions of the placement.
The securities issued under this private placement will be subject to a four-month plus one day hold period from their date of issuance. Proceeds from the sale of the Units will be used for working capital and general corporate purposes.
Additionally, the Company reports that it has issued 1,200,000 units ("Conversion Units") in its capital stock at a price of $0.05 per Conversion Unit, having received notices of conversion of principal of $60,000 held by three 2012 Term Loan holders. Each Conversion Unit issued consists of one common share and one common share purchase warrant, each Warrant exercisable to acquire one additional common share of the Company at a price of $0.05 per share until the Term Loan maturity date of December 31, 2016. Per contract, Term Loan holders can convert principal amounts of their loans to the Company into units at a conversion price of $0.05 per unit until December 31, 2015 and thereafter at a price of $0.10 per unit until Maturity, as previously reported in the news release issued February 11, 2015. $40,000 of the principal amount was converted by a director and a company controlled by a director, who acquired an aggregate 800,000 Conversion Units.
About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our strategic 144 sq. kms of contiguous mineral claims, collectively known as the Ladner Gold Project. The project is located near Hope, BC, in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.
For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert L. Thast"
President & Chief Executive Officer
Phone: 778.294.3211
Cell: 604.220.5031
E-mail: ceo@newcarolingold.com
Web site: www.newcarolingold.com
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.
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