Press release from Marketwire
New Dimension Closes Flow-Through Financing
Tuesday, April 24, 2012
New Dimension Closes Flow-Through Financing19:19 EDT Tuesday, April 24, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2012) -New Dimension Resources Ltd. (TSX VENTURE:NDR) (the "Company" or "New Dimension") announces it has closed its non-brokered private placement totaling 4,845,000 flow-through Units (the "Units") at a price of $0.10 per Flow-Through Unit for proceeds of $484,500. Each Unit consists of one flow-through common share plus one-half of one non-flow-through transferable common share purchase warrant with each whole warrant exercisable into a common share at a price of $0.20 for a period of 12 months from closing. Each warrant will be subjected to an accelerated exercise provision if the share price of New Dimension trades at or above $0.45 for 10 or more consecutive trading days.New Dimension also issued 279,650 common shares as finder's fees in respect of purchasers of securities introduced to the Company by the finders.The Company intends to use the proceeds from the financing of the flow-through shares to incur Canadian Exploration Expenses ("CEE") within the meaning of the Income Tax Act (Canada) on its Canadian mineral properties. The Company will use its best efforts to ensure that such CEE qualifies as flow-through mining expenditures for the purpose of the Income Tax Act. The Company intends to renounce CEE in favour of the purchasers of the Units as of December 31, 2012.The Units and the finder's fees shares are subject to a four-month hold period which expires on August 24, 2012.NEW DIMENSION RESOURCES LTD.Fred G. Hewett, P.Eng., President & CEOThis news release may contain forward looking statements which are not historical facts, such as statements of belief of similarity of geological characteristics or features, statements of unverified drilling and sampling results and expectations of receipt of permits and plans for future work. Forward looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, unexpected geological factors, exploration results, results of verification work and unanticipated regulatory obstacles. See New Dimension's filings for a more detailed discussion of factors that may impact expected results.This news release does not constitute an offer to sell or solicitation of an offer to sell any 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.FOR FURTHER INFORMATION PLEASE CONTACT: Fred Hewett, P.Eng.New Dimension Resources Ltd.President & CEO604-687-7545 or 1-888-338-2200ORChris CurranNew Dimension Resources Ltd.604-687-7545 or 1-888-338-2200604-689-5041 (FAX)firstname.lastname@example.orgNeither 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 news release.