New Destiny Mining Corp.
TSX VENTURE : NED

New Destiny Mining Corp.

April 02, 2012 09:00 ET

New Destiny Mining Corp. Announces Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 2, 2012) - New Destiny Mining Corp. (TSX VENTURE:NED) (the "Company") is pleased to announce that it has closed its private placement of 2,883,000 units at $0.15 per unit for total gross proceeds of $432,450. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one common share for a period of two years at a price of $0.25 per share.

The Company paid a total of $27,600 in finder's fees, issued a total of 26,640 units, the units having the same terms as those under the placement, and issued a total of 210,640 share purchase warrants to such finders. Each finder's warrant is exercisable into one common share of the Company for a period of two years at a price of $0.25 per share.

The securities issued under the placement are subject to hold periods expiring July 20, 2012.

Proceeds of the placement will be used to advance the Company's Lake LeMare Property and for general working capital.

NEW DESTINY MINING CORP.

Robert Laird Birmingham, President

Neither 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 accuracy of this release.

Contact Information