(TheNewswire)
January 19 2017 / TheNewswire / New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD / OTCBB: LADFF) is pleased to announce that it has over-subscribed its Unit private placement financing (the "Unit Offering") and appointed Allyson Taylor Partners Inc. of Montreal, QC as Investor Relations consultant.
Unit Financing
The Company has closed on the non-flow through Unit Offering announced November 15 and December 21, 2016, for gross proceeds of $508,270 by way of the private placement of 7,261,000 units ("Units") in the capital stock of the Company at a price of $0.07 per Unit. Each Unit consists of one common share of the Company and one warrant to purchase one additional common share for a period of two years from the date of closing at a price of $0.07 per share in the first year and $0.09 per share in year 2.
Proceeds from the Unit Offering will be used for working capital and general corporate purposes. Finder's fees were paid on portions of the Unit Offering in accordance with TSX Venture Exchange regulations, as to up to 8% cash commission totaling $19,821 and up to 8% finder's warrants totaling 455,160 warrants, each warrant issued for a period of two years and exercisable on the same terms as the subscriber Unit warrants. All securities issued in connection with the placement are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.
IR Appointment
The Company is pleased to announce that it has entered into an agreement for Investor Relations services with Allyson Taylor Partners Inc. of Montreal, Quebec.
Allyson Taylor Partners Inc. ("ATP") has been an Investor Relations and marketing consultant to private and public companies for the past ten years, during which they have arranged financing and provided marketing services to over forty companies. ATP will be committing to increasing investor awareness for New Carolin throughout North America and in the European financial community, especially with private family offices and high net worth individuals.
The agreement includes a contract fee of $4,000 per month for an initial 6-month term, to be carried forward on a month-to-month basis. Additionally, ATP has been granted 300,000 incentive stock options priced at $0.07, vesting as to 25% per quarterly period for a period of one year.
Robert Thast, New Carolin CEO commented: "The Company is pleased that ATP has joined our team to help increase exposure through their numerous contacts throughout the financial community in North America and Europe. We look forward to working with them".
Incentive Stock Options
The Company also reports that the board of directors has granted 3,500,000 incentive stock options to purchase common shares of the Company at a price of $0.07 per share to its consultants, management and directors. The options are exercisable for a maximum period of five years from the date of grant. 2,000,000 of the options are being granted to the officers and directors of the Company.
About New Carolin Gold
New Carolin Gold Corp. is a Canadian-based brownfields development company focused on the exploration, evaluation and development of its 100% owned Ladner Gold Project, consisting of 144 square kilometers of contiguous mineral claims and crown grants in the prospective and under-explored Coquihalla Gold Belt, located 2 hours by freeway from Vancouver near Hope, British Columbia. The Company has an existing mine permit, water licenses and tailings facility in place, as well as 10.5 kilometers of underground tunnels for exploration access. The Ladner Gold Project is host to several historic gold producers, including the Carolin Mine, Emancipation Mine, Arum Mine, Ward Mine, and Pipestem Mine, in addition to numerous artisan workings and gold prospects that typically exploit high grade visible gold mineralization.
For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Robert L. Thast"
President & Chief Executive Officer
Phone:604.542.9458
Cell:604.220.5031
E-mail: ceo@newcarolingold.com
Web site: www.newcarolingold.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the 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 the accuracy of this press release.
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