New Destiny Mining Announces Financing
NEW DESTINY MINING CORP
SUITE 59 – 701 West Georgia St., 15th Floor Vancouver, BC V7Y 1G5 Telephone: (604) 783-0499
NEWS RELEASE
NEW DESTINY MINING ANNOUNCES FINANCING
Vancouver, British Columbia – February 16, 2017 –New Destiny Mining Corp. (TSX.V: NED) (the “Company”) is pleased to announce that it has arranged, subject to TSX Venture Exchange acceptance, a private placement of up to 1,400,000 non flow-through units (the “NFT Units”) at a price of $0.18 per NFT Unit for total gross proceeds of up to $252,000 and up to 1,100,000 flow-through units (the “FT Units”) at a price of $0.22 per FT Unit for total gross proceeds of up to $242,000.
Each NFT Unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share for a period of five years from the date of issue at a price of $0.25 per share. The warrants are subject to a 20-day forced exercise provision if the closing price of the Company’s shares is $0.30 or higher for ten consecutive days.
Each FT Unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share for a period of five years from the date of issue at a price of $0.30 per share. The warrants are subject to a 20-day forced exercise provision if the closing price of the Company’s shares is $0.40 or higher for ten consecutive days.
Finders’ fees may be payable in whole or in part on the placements pursuant to the policies of the TSX Venture Exchange.
Proceeds will be used for qualified exploration expenditures on the Company’s Treasure Mountain silver property in British Columbia, fulfilling its obligations pursuant to the Option Agreement with Ximen Mining Corp. announced on December 1, 2016 and general working capital.
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.