New Nadina Continues with Private Placement Financing
August 10, 2017 GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX VENTURE: NNA) announces it is continuing with the Private Placement announced June 20, 2017. The terms which are …6,000,000 units at a price of $0.08 cents per unit for gross proceeds of $480,000. The units of the financing will comprise of one common share and a full share purchase warrant, exercisable for a period of five years at a price of $0.12 per share subject to terms. See NR June 20, 2017 for full details.
The drill program, explained in the June 20, 2017 NR, is expected to commence September 1 and expected to take 8-10 weeks. The property site has good year round access with full core sampling facilities.
Assuming the entire Offering is fully subscribed, the Company intends to allocate the net proceeds towards exploration drilling of the Silver Queen property. While the Company currently anticipates that it will use the net proceeds as described, it may re-allocate the gross proceeds from time to time depending upon the Company’s growth strategy relative to market and other conditions in effect at that time.
A finder's fee of 7% value may be paid in cash to eligible finders in accordance to the TSX-V policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders' fees are both subject to approval by the TSX-V.
ON BEHALF OF THE BOARD
Ellen Clements, President and Chief Executive Officer
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. 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.
“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 accuracy of this release.”