New Dimension Resources - Shares for Debt
2020-09-08 07:30 MT - News Release
New Dimension Resources - Shares for DebtCanada NewsWire
VANCOUVER, BC, Sept. 8, 2020
TSX-V: NDR
VANCOUVER, BC, Sept. 8, 2020 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", "NDR", or "New Dimension") wishes to announce that in an effort to conserve its capital and subject to regulatory approval, it has agreed to settle $512,721.92 of outstanding indebtedness to current and former insiders of the Company with the issuance of 8,545,365 common shares of the Company at a deemed price of $0.06 per share.
All proposed shares issued in settlement of debt will be subject to a hold period trading restriction expiring 4 months and 1 day after issuance.
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. |
