OR FOR Release, Publication, Distribution OR Dissemination Directly, OR Indirectly, IN Whole OR IN Part, IN OR into
New Dimension Resources - Shares for Debt
Settlement
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,
DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN
OR INTO
THE UNITED STATES
./
TSX-V: NDR
VANCOUVER, BC
,
Sept. 16, 2020
/CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the
"Company", "NDR", or "New Dimension") further to the Company's news release of
September 8,
2020
wherein it announced the settlement of
$512,722
indebtedness by the issuance of 8,545,365
ordinary shares; today announced that it has settled Company indebtedness of
C$385,963
due to
current and former insiders of the Company with the issuance of 6,432,714 common shares of the
Company. The settled indebtedness consists of
$45,582
in fees due to former directors of the
Company;
$47,500
due to the current CEO and outstanding debt balance of
$292,881
which
consists of full and partial payment of loans provided to the Company by current insiders. Any
unsettled debt will be paid in normal course.
The shares issued in settlement are subject to a hold period trading restriction expiring on
January
16
, 2021.
On Behalf of the Board of
New Dimension Resources Ltd
.
"Eric Roth"
___________________________
Eric Roth
, Ph.D., FAusIMM
President & CEO
About New Dimension Resources
New Dimension is engaged in the acquisition, exploration, and development of quality mineral
resource properties in favourable jurisdictions with a focus on high-grade gold and base metal
deposits. The Company's current focus is on the discovery through exploration of high-grade gold
deposits on its newly-acquired 100%-owned Southern Gold Line Project (
Sweden
), as well as on its
existing 100%-owned
Savant Lake
project in
Ontario
and its 29.6% interest in the Domain Joint
Venture with Yamana Gold in
Manitoba (Canada
). In addition, the Company has acquired 100%
interests in two large properties covering the past-producing Løkken and Kjøli copper-rich massive
sulfide deposits in central
Norway
and in which drill-ready targets have already been identified.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE
New Dimension Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/September2020/16/c6977.html
%SEDAR: 00023195E
For further information:
New Dimension Contacts: Eric Roth, Email:
[email protected]; Karen Davies, +1 604-314-2662
CO: New Dimension Resources Ltd.
CNW 20:34e 16-SEP-20