New Destiny Mining Closes Financing and Announces New CFO
05.08.2016 | FSCwire
Vancouver - New Destiny Mining Corp. (TSX.V: NED) (the “Company”) is pleased to announce that it has completed a non-brokered private placement financing for gross proceeds of $150,000 (the “Financing”).Pursuant to the Financing, the Company has allotted and issued 2,500,000 units (the “Units”) at a price of $0.06 per Unit. Each Unit consists of one common share in the capital of the Company and one transferable share purchase warrant (the “Warrant”). Each Warrant is exercisable by the holder to acquire one additional common share of the Company for a period of five years from issuance at an exercise price of $0.15 per share. The Warrants are subject to a 20-day forced exercise provision if the closing price of the Company’s shares is $0.20 or higher for twenty consecutive days.
In addition, the Company has paid a finder’s fee of $6,000 and 100,000 finder’s warrants (the “Finder’s Warrants”) to a registered dealer. Each Finder’s Warrant is exercisable by the holder to acquire one additional common share of the Company for a period of five years from issuance at an exercise price of $0.15 per share and is also subject to the forced exercise provision.
Further, the Company announces the appointment of Zeny Manalo as Chief Financial Officer, effective immediately.
Ms. Manalo has worked in the financial markets for over 25 years, and during that tenor has acted as a director, officer and CFO of many public companies. Her financial literacy and knowledge of the public markets will strengthen the Company’s management team.
The Company has accepted the resignation of Ping Shen as Chief Financial Officer of the Company. The Company wishes to thank Ms. Shen for her contribution to the Company and wishes her success in her future endeavors.
The Company would also like to announce the appointment of Wesley Warthe-Anderson as a Director of the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
“Robert Birmingham”
Robert Birmingham, President
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
