Tranche One - $693,750 Drill funds raised
December 4, 2017 GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX VENTURE: NNA) announces $693,750 received from Tranche one of the Non Brokered Private Placement first announced on Nov 13, 2017. All securities issued are subject to a hold period of four months and one day and become free trading on April 2, 2018. The offering and any payment of finders' fees are both subject to TSX-V approval – details as follows:
Flow Through comprise 150,000 shares at $3.80 for proceeds of $570,000. Pertaining to Flow Through shares only, there were 9,001 (6%) broker warrants issued (exercisable for two year at $3.80) and 6% finder's fee of $34,200 paid in cash.
Non-Flow through Units issued comprise 33,000 shares at $3.75 and half warrants to purchase 16,500 common shares at $4.25 per share exercisable for a period of two years. Exercise of warrants may be accelerated in the event the shares trade at or above a price of $6.00 for a period of ten (10) consecutive trading days. In such case, the issuer shall give notice by way of a news release and to the subscribers that the warrants will expire thirty (30) days from the date of providing such notice. Proceeds of $123,750 have been received and no Finders’ Fee was paid.
All proceeds will be spent on exploration and drilling at its 100% owned Silver Queen property at Owen Lake south of Houston BC. Subject to ground moisture, approximately 6,000 meters of drilling will commence in early April 2018 to test and further define the high conductive Blue Zone anomaly intersected in 2017 drilling.
The Company confirms that reporting of drill hole 17S-01 assay results is expected by December 15, 2017. In that report, visuals and information on drill holes 17S-02 and 17S-03 will also be reported. Subsequent to this, additional core photos will be published on the company website: nadina.com.
The balance of the private placement (NR Nov 13, 2017) will be closed prior to the release of assay results and if any remaining unsubscribed portion will be cancelled. At that time, the Company will provide an update of proceeds from exercised options and warrants to date.
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.”