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TSX-V: NDR
VANCOUVER, BC, Sept. 16, 2020 /CNW/ - New Dimension Resources
Ltd. (TSXV: NDR) (the "Company", "NDR", or "New Dimension") further
to the Company's news release of September
8, 2020 wherein it announced the settlement of $512,722 indebtedness by the issuance of
8,545,365 ordinary shares; today announced that it has settled
Company indebtedness of C$385,963 due
to current and former insiders of the Company with the issuance of
6,432,714 common shares of the Company. The settled
indebtedness consists of $45,582 in
fees due to former directors of the Company; $47,500 due to the current CEO and outstanding
debt balance of $292,881 which
consists of full and partial payment of loans provided to the
Company by current insiders. Any unsettled debt will be paid
in normal course.
The shares issued in settlement are subject to a hold period
trading restriction expiring on January
16, 2021.
On Behalf of the Board of
New Dimension Resources Ltd.
"Eric Roth"
___________________________
Eric Roth, Ph.D., FAusIMM
President
& CEO
About New Dimension Resources
New Dimension is engaged in the acquisition, exploration, and
development of quality mineral resource properties in favourable
jurisdictions with a focus on high-grade gold and base metal
deposits. The Company's current focus is on the discovery through
exploration of high-grade gold deposits on its newly-acquired
100%-owned Southern Gold Line Project (Sweden), as well as on its existing 100%-owned
Savant Lake project in
Ontario and its 29.6% interest in
the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company
has acquired 100% interests in two large properties covering the
past-producing Løkken and Kjøli copper-rich massive sulfide
deposits in central Norway and in
which drill-ready targets have already been identified.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE New Dimension Resources Ltd.