Mr. Fred Hewett reports
NEW DIMENSION RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT
New Dimension Resources Ltd. has arranged a non-brokered private placement of up to 1.5 million units at a price of six cents per unit. Each unit shall comprise one common share and one warrant. Each warrant will entitle the holder to acquire one common share of New Dimension at a price of 15 cents for a period of 24 months immediately following the closing date. The warrants will be subjected to an accelerated exercise provision if the share price of New Dimension trades at or above 25 cents for 10 or more consecutive trading days.
Net proceeds of this private placement will be used to further the company's exploration projects, to finance possible new acquisitions and for general working capital.
We seek Safe Harbor.
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