New Destiny Mining Corp.

New Destiny Mining Corp.

March 05, 2012 12:22 ET

New Destiny Mining Corp. Announces Stock Option Grant and Amends Terms of Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2012) - New Destiny Mining Corp. (TSX VENTURE:NED) (the "Company" or "New Destiny) announces that it has granted stock options under its stock option plan to directors, officers and consultants of the Company for the purchase of up to 525,000 common shares at a price of $0.17 per share for a period of 5 years. The stock option plan and options granted thereunder are subject to the acceptance of the TSX Venture Exchange. Additionally, the Company announces that certain previously granted stock options for the purchase of 425,000 shares at $0.15 per share have been cancelled.

The Company also announces a further amendment to the finder's fee being offered on the private placement announced January 17th, 2012. The finder's fee will now consist of (i) 8% cash or, at the election of the finder, Units, and (ii) 8% warrants, each warrant entitling the holder to purchase one common share of the Company at a price of $0.25 for a period of 24 months from the date of closing. All other terms of the placement remain the same.


Robert Laird Birmingham

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 acurracy of this release.

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