(TheNewswire)
November 15 2016 / TheNewswire / New Carolin Gold
Corp. (the “Company” or “New Carolin”) (TSXV: LAD / OTCBB: LADFF) is
pleased to announce that it has closed on $530,000 of the $1,100,000
flow-through financing (the “FT Offering”) announced November 4, 2016, issuing 6,625,000 flow-through common shares (the “FT
Shares”) in the capital stock of the Company at a price of $0.08 per FT Share. The Company expects to close the second tranche of
up to $570,000 within the next few weeks.
Each FT Share will be designated as a flow-through share pursuant to the Income Tax Act (Canada). The
proceeds from the FT Offering will be used to fund qualified Canadian Exploration Expenditures (CEE) work on the Company’s Ladner
Gold Project in southwestern British Columbia. All securities issued in connection with the FT Offering 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 is also announcing working capital financing of up to $500,000 by way of the private placement of
up to 7,142,857 non-flow through units (“NFT Units”) in the capital stock of the Company at a price of $0.07 per NFT Unit (the “NFT
Offering”). Each NFT Unit will consist of one non-flow through common share of the Company and one warrant to purchase one
additional non-flow through common share at a price of $0.10 per share for a period of two years from the date of
closing.
Proceeds from the NFT Offering will be used for working capital required for the upcoming Phase 2 underground
work program and general corporate purposes. Finder’s fees may be paid on portions of the NFT Offering in accordance with TSX
Venture Exchange regulations. All securities issued in connection with the NFT Offering are subject to a statutory hold
period of four months plus one day from the date of issuance in accordance with applicable securities legislation.
About New Carolin Gold
New Carolin Gold Corp. is a Canadian-based brownfields development company focused on the
exploration, evaluation and development of our 100% owned property, consisting of 144 square kilometers of contiguous mineral
claims and crown grants collectively known as the Ladner Gold Project. The Company is currently executing exploration programs on
the property which is located 2 hours by freeway from Vancouver near Hope, British Columbia, in the prospective and under-explored
Coquihalla Gold Belt. 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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
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