September 20, 2010: GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (TSX VENTURE: NNA) has closed the second Tranche of a non brokered private placement financing.
The second Tranche consists of 1,700,000 Flow-Through units for proceeds of $170,000 with associated warrants issued can purchase up to 850,000 common shares at 15 cents for 24 months expiring September 20, 2012 and 1,250,000 non-Flow Through units for proceeds of $125,000 with associated warrants issued can purchase up to 1,250,000 common shares at a price of 10 cents for the first 12 months and a price of 15 cents for the next 12 months. Shares issued cannot be traded before January 21, 2011.
There were 36,000 non-Flow Through units issued to two finders.
Proceeds will be used for the 2010 exploration program on the Company’s 100% owned Silver Queen property south of Houston BC and general corporate funds. The private placement has received the approval of the TSX Venture Exchange.
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.”