/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
TSX-V: NDR
VANCOUVER, Feb. 26, 2018 /CNW/ - New Dimension Resources
Ltd. (TSXV: NDR) (the "Company" or "New Dimension") is pleased to
announce that it has increased the size of its previously announced
non-brokered private placement to aggregate gross proceeds of
C$3,825,000 upon the issuance of
34,772,727 common shares of the Company ("Common Shares") at a
price of C$0.11 per Common Share (the
"Private Placement").
Prior to the closing of the Private Placement, the Company
intends to consolidate its Common Shares on the basis of one (1)
post-consolidated share for every 2.5 pre-consolidation shares,
subject to TSX Venture Exchange ("TSXV") approval. Investors
subscribing for Common Shares in the Private Placement will receive
post-consolidated shares.
Proceeds from the Private Placement will be used for exploration
and business development activities focused on advancing the
Company's interests in the Santa Cruz Projects in Argentina, each of which is described in the
news release dated February 20,
2018.
It is furthermore anticipated that insiders of New Dimension
will also participate in the Private Placement on the same terms
and conditions as arm's length subscribers. New Dimension may
pay commissions and finders' fees in connection with the
financing.
Approvals
The Private Placement is subject to certain conditions,
including receipt of all necessary consents and regulatory
approvals, including the approval of the TSXV. All securities
issued under the Private Placement will be subject to a hold period
of four months from the date of issuance of the securities.
Closing of the Private Placement is scheduled to occur on or
about March 29, 2018, subject to
applicable regulatory and other approvals, including approval of
the TSXV.
Trading in the shares of New Dimension is halted at present.
It is unlikely that the Company's shares will resume trading
until the Company's previously disclosed acquisitions are
completed.
On Behalf of the Board of New Dimension Resources Ltd.
"Fred G. Hewett"
___________________________
Fred G. Hewett, P.Eng.
President &
CEO
About New Dimension Resources Ltd.:
New Dimension is engaged in the acquisition, exploration and
development of quality mineral resource properties throughout the
Americas with a precious metal focus. The Company currently
holds an option on the Savant Lake
(Ontario) and an interest in the Domain (Manitoba) gold properties in Canada, and upon closing of the transaction
described in the release dated February 20,
2018, will hold a 100% interest in three Advanced
Gold-Silver Projects, in Santa
Cruz, Argentina.
Cautionary Notes and Forward-looking
Statements
This 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 contains forward-looking information within
the meaning of applicable securities
legislation. Forward-looking information is typically
identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. Such
statements include, without limitation, statements regarding the
future results of operations, performance and achievements of New
Dimension, including trading of the Company's shares and receipt of
all necessary regulatory and third-party approvals required in
connection with the Private Placement. Although the Company
believes that such statements are reasonable, it can give no
assurances that such expectations will prove to be
correct. All such forward-looking information is based
on certain assumptions and analyses made by New Dimension in light
of their experience and perception of historical trends, current
conditions and expected future developments, as well as other
factors management believes are appropriate in the circumstances.
This information, however, is subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking information. Important factors that could cause
actual results to differ from this forward-looking information
include those described under the heading "Risks and Uncertainties"
in New Dimension s most recently filed MD&A. New Dimension does
not intend, and expressly disclaims any obligation to, update or
revise the forward-looking information contained in this news
release, except as required by law. Readers are cautioned not to
place undue reliance on forward-looking information.
Neither the TSXV 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.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
to be offered in the Private Placement have not been and will not
be registered under the United States Securities Act of 1933, as
amended, or any state securities laws and may not be offered or
sold in the United States or to,
or for the benefit or account of, a person in the United States, except pursuant to an
available exemption from such registration requirements.
SOURCE New Dimension Resources Ltd.