(TheNewswire)
Vancouver, BC / TheNewswire / January 9 2017 - New Carolin Gold Corp. (the “Company”
or “New Carolin”) (TSXV: LAD / OTCBB: LADFF) is pleased to provide
this update to its recent flow-through and working capital financing announcements:
2016 Flow Through Private Placement
The Company is pleased to report that, prior to December 31, 2016, it closed on $939,997.02 by way of the
private placement of flow-through shares (the “FT Offering”) announced on November 4, December 21, and December 28, 2016. The
Company issued an aggregate 12,932,646 flow-through common shares (the “FT Shares”) in its capital stock in two tranches: 6,625,000
FT Shares at $0.08 per share for proceeds of $530,000 on November 14, 2016; and a second tranche of 6,307,646 FT Shares at a price
of $0.065 for proceeds of $409,997.02, issued on December 23 and December 30, 2016. Each FT Share is designated as a
flow-through share pursuant to the Income Tax Act (Canada). 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.
Finder’s fees totaling $56,530 in cash and 780,096 non-flow through common share purchase warrants were paid in
connection with the FT Offering. All securities issued in connection with the FT Offering, including the finder warrants, are
subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities
legislation.
Working Capital Financing
Loan
The Company reports that it has received TSX Venture Exchange (“Exchange”) approval for and closed on the third
party loan for $210,000 (the “Loan”) announced in a news release dated December 28, 2016. The Loan has a term of one year, bears
interest at a rate of 13% per annum and is secured by a general security agreement over the assets of the Company. In
connection with the Loan, the Company has issued 3,500,000 bonus common share purchase warrants to the lender. The warrants are
exercisable to purchase common shares at $0.06 per share for a period of one year from their date of issue. Proceeds from the
Loan will be used for working capital and general corporate purposes.
Warrant Exercise
The Company also reports that it has raised $275,000 through the exercise of common share purchase warrants
held by several of its current shareholders. Prior to their expiration on December 31, 2016, the Company received notice of
exercise of 5,500,000 warrants to purchase shares at a price of $0.05 per share, and has issued the shares accordingly.
Proceeds from the warrant exercises will be used for working capital and general corporate purposes.
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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
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