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New Dimension arranges $1.2-million financing

2018-12-14 18:01 ET - News Release

Mr. Eric Roth reports

NEW DIMENSION ANNOUNCES PRIVATE PLACEMENT FINANCING

New Dimension Resources Ltd., subject to regulatory approval, intends to complete a non-brokered private placement of up to 21,818,182 common shares at a price of 5.5 cents per common share for gross proceeds of up to $1.2-million. These proceeds will be used to finance further development of its portfolio of high-grade gold-silver projects in Santa Cruz province, Argentina, as well as for general working capital.

The company also intends to complete, subject to regulatory approval, a non-brokered private placement of up to four million flow-through common shares at a price of 7.5 cents per flow-through share. The gross proceeds of up to $300,000 will be used to further explore its Savant Lake gold project in Ontario, Canada.

The company may pay finders' fees in either cash, shares, share purchase warrants or a combination thereof, as permitted by regulators, on a portion of the private placements. Closing of the flow-through portion of the private placement is expected to be on or before Dec. 31, 2018, with the closing of the regular private placement expected to occur shortly thereafter. All securities issued under the private placements will be subject to a hold period of four months from the date of issuance of the securities.

About New Dimension Resources Ltd.

New Dimension Resources is engaged in the acquisition, exploration and development of quality mineral resource properties throughout the Americas, with a focus on precious metals. New Dimension Resources' current focus is on the discovery through drilling of new high-grade gold-silver resources at its 100-per-cent-owned Las Calandrias, Los Cisnes and Sierra Blanca projects, all located in the Deseado massif of Santa Cruz province, southern Argentina.

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