New Destiny Announces Financing
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NEW DESTINY MINING CORP.
Vancouver, BC
TSX-V: NED
NEW DESTINY ANNOUNCES FINANCING
Vancouver, British Columbia – February 24, 2023 – New Destiny Mining Corp. (TSXV: NED) , (the
“Company” or “NED”) is pleased to announce it has arranged a non -brokered private placement of up to
$2,250,000 in non -flow-through financing and up to $1, 500,000 in flow -through financing. The offering
will consist of up to 22.5 million non-flow-through units priced at $0.10 and up to 10 million flow-through
units priced at $0.15.
Each non -flow-through unit will comprise of one common share and one share purchase warrant. Each
warrant will entitle the holder to purchase one additional common share at the price of $0.25 for a period of
18 months after closing.
Each flow -through unit will comprise one common share (which is a flow -through share for Canadian
income tax purposes) and one-half share purchase warrant. Each whole flow-through warrant will entitle the
holder to purchase one additional common share which is a non-flow-through share at the price of $0.25 for
18 months after closing.
Proceeds from the private placement will be used for the continued exploration work on the Company’s
Treasury Mountain Property, potential project acquisitions, as well as general working capital.
A finder's fee may be paid to eligible finders in accordan ce with the TSX-V policies. All securities issued
pursuant to the offering will be subject to a hold period of four months and one day from the date of closing.
The offerings and payment of finders' fees are both subject to approval by the TSX-V.
Directors, officers or other insiders of the Company may participate in the foregoing offerings, and such
parties may sell securities of the Company owned or controlled by them personally through the facilities of
the TSX Venture Exchange to finance participation in such offerings.
ON BEHALF OF THE BOARD OF DIRECTORS
“Barry Brown”
Director
604-488-3900
Forward Looking Information
This news release includes certain statements that constitute “forward -looking information” within the meaning of applicable securities law,
including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance,
prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statemen ts regarding the
completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number
of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of futu re results, estimates of
amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect t o predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such
as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain
actions, events or results “may”, “could”, “wou ld”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar
expressions are not statements of historical fact and may be forward -looking statements. Forward -looking statement are necessarily based upon
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several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future
results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions
regarding present and future business strategies and the environment in which the Company will operate in the future, includi ng the price of gold
and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such
estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to signific ant business,
economic, competitive and regulatory uncertainties and ri sks 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 n ecessary;
fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s
expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discove red or dev eloped.
Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ
materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business
conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers
and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward -looking statements are not guarantees of
future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty
of such statement s. The forward -looking statements included in this news release are made as of the date hereof and the Company disclaims any
intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except
as expressly required by applicable securities legislation.
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