New Dimension Resources - Shares for Debt Settlement

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New Dimension Resources - Shares for Debt Settlement

Canada NewsWire

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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.

Cision View original content: http://www.newswire.ca/en/releases/archive/September2020/16/c6977.html

Copyright CNW Group 2020

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