Closing of 1ST Tranche of Non-Brokered Private Placement
NEW DESTINY MINING CORP.
SUITE 4006, 1011 WEST CORDOVA STREET VANCOUVER, BRITISH COLUMBIA V6C 0B2
TEL: (604) 678-5308 / FAX: (604) 678-5309
TSXV: NED
CLOSING OF 1ST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Vancouver, BC – January 10, 2013: New Destiny Mining Corp. (TSX.V: NED) (the “Company”) announces that it has closed its 1st tranche of its non-brokered private placement. The Company sold 4,050,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $202,500. Each Unit consists of one common share in the capital of the Company and one transferable share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share at a price of $0.15 per share for a period of one year.
The proceeds of the offering will be used to fund work on the Company’s mineral properties and for general working capital purposes.
The Company paid finder’s fees in the amount of $13,250 and issued 265,000 finder’s warrants (the “Finder’s Warrants”) to various arm’s length parties in connection with this private placement. Each Finder's Warrant entitles the holder thereof to purchase one additional common share at an exercise price of $0.15 per share for a period of one year.
All the shares issued in this private placement and any resulting shares issued upon the exercise of any warrants will be subject to a hold period expiring on May 10, 2013.
ON BEHALF OF THE BOARD OF DIRECTORS
Robert L. Birmingham President Tel: (604) 678-5308
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.