Newstrike Resources Ltd.
TSX VENTURE : NR

Newstrike Resources Ltd.

October 11, 2013 14:40 ET

Newstrike Resources Ltd. Closes First Tranche of Private Placement Financing

TORONTO, ONTARIO--(Marketwired - Oct. 11, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Newstrike Resources Ltd. (TSX VENTURE:NR) ("Newstrike") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement pursuant to which it has issued an aggregate of 4,350,000 units ("Units") at a price of $0.065 per Unit to raise aggregate gross proceeds of $282,750. Each Unit consists of one common share and one share purchase warrant of Newstrike, with each share purchase warrant entitling the holder thereof to acquire one additional common share of Newstrike for a period of 24 months at an exercise price of $0.10 per share. Insiders of Newstrike subscribed for 1,100,000 Units in the offering. A second tranche is expected to close shortly.

All securities issued and issuable in connection with the offering are subject to a statutory hold period expiring on February 12, 2014. The private placement remains subject to the approval of the TSX Venture Exchange.

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 ACCURACY OF THIS RELEASE.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Newstrike, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Contact Information

  • Newstrike Resources Ltd.
    Donald T. Rankin
    416.628.6556