New Destiny Extends Terms of Exclusivity Agreement on Treasure Mtn. Silver Project
NEW DESTINY MINING CORP.
SUITE 1330 – 1075 West Georgia St.
VANCOUVER, BC V6E 3C9 Telephone: (604) 783-0499
Trading Symbol: NED
NEW DESTINY EXTENDS TERMS OF EXCLUSIVITY AGREEMENT ON TREASURE MTN. SILVER PROJECT
Vancouver, Canada, September 22nd, 2016 – New Destiny Mining Corp. (“New Destiny” or the “Company”) (TSX-V Symbol: NED) announces an extension on the exclusivity agreement with Ximen Mining Corp. (TSX-V Symbol: XIM) (“Ximen”) previously announced on August 18th, 2016. Under the terms of the new agreement, New Destiny will have an additional 30 days to conduct due diligence on certain of Ximen’s mineral claims in British Columbia, with a view to negotiating the terms of a letter of intent and, if applicable, a definitive agreement in order to complete the acquisition of certain of Ximen’s mineral claims (the “Proposed Transaction”).
The Company also announces, further to its previously announced news release on August 20th, 2016, that New Destiny intends to complete a non-brokered private placement of up to two and a half (2.5) million units (the “Units”) at a price of $0.13 per Unit to raise gross proceeds of up to $325,000. Each Unit will consist of one common share of the Company and one transferable common share purchase warrant (each a “Warrant”). Each Warrant shall be exercisable to acquire one additional common share for a period of 5 years at an exercise price of $0.17. As part of this non-brokered financing, the Warrants are subject to an acceleration clause. This clause states that if four months and one day after the Warrants are issued, the closing price of the common shares of the Company, on the principal market on which such shares trade, is equal to, or exceeds, $0.25 for 20 consecutive trading days, the Warrant expiry date shall accelerate to a date 20 calendar days after issuance of a press release by the Company announcing that reduced warrant term.
New Destiny may also pay a finder’s fee in accordance with the policies of the TSX Venture Exchange and applicable securities legislation. This financing is subject to TSX Venture Approval.
Further details will be provided in a future news release if and when New Destiny and Ximen execute a letter of intent in respect of the Proposed Transaction.
For further information on New Destiny, please visit our website at www.newdestinymining.com, or contact Robert Birmingham, New Destiny’s President and Chief Executive Officer, at (604-783-0499).
ON BEHALF OF THE BOARD OF DIRECTORS
“Robert Birmingham”
Robert L. Birmingham, President and Chief Executive Officer
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such
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statements and New Destiny undertakes no obligation to update such statements, except as required by law. There can be no assurance that the Proposed Transaction will be completed or, if completed, will be successful.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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.