NEW CAROLIN GOLD CORP. ANNOUNCES UNIT OFFERING
New Carolin Gold Corp. has arranged a 2.4-million-unit offering at a price of 15 cents per unit for gross proceeds of up to $360,000. Each unit comprises one common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of 25 cents per share for a period of 24 months from closing. Proceeds of the unit offering will be used for continued development of the company's Ladner gold project in southwestern British Columbia and general working capital.
Finders' fees may be payable on portions of the offerings in accordance with TSX Venture Exchange policy. All securities issued in connection with both offerings are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.
The company also wishes to announce that Ted Bassett has resigned from the board and to thank him for the service he has provided.