August 26, 2010: GREENWOOD, BRITISH COLUMBIA
New Nadina Explorations Limited (TSX VENTURE: NNA) has closed the first Tranche of a non brokered Flow Through private placement financing of four million units for proceeds of $400,000. Associated warrants issued can purchase up to two million common shares at 15 cents for 24 months expiring August 24, 2012. Shares issued cannot be traded before December 25, 2010.
The $350,000 received from MineralFields Group supports the 2010 drill and exploration program allowing us to mobilize and commit to the program. The surrounding area has recently been plagued by forest fires. A much needed rain warranted the evacuation order to be lifted as of August 24, 2010 allowing us to mobilize.
There was $28,000 paid to a finder. Proceeds will be used for the 2010 exploration program on the Company’s 100% owned Silver Queen property south of Houston BC. The private placement has received the approval of the TSX Venture Exchange.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.
ON BEHALF OF THE BOARD
President and Chief Executive Officer
Contact Ellen Clements: 250 444 1005
“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.”