New World Increases Non-Brokered Private Placement to $305,000
March 05 2014 - 12:17PM
Access Wire
Vancouver, B.C. / ACCESSWIRE / March 5, 2014 /
New World Resource Corp.
(the "Company") announces that in response to
over-subscription it has increased the size of its non-brokered
private placement previously announced on February 20, 2014, to
consist of up to 3,812,500 units (the "Units") at a price of $0.08
per Unit for gross proceeds of up to $305,000.
Each Unit will consist of one
common share and one common share purchase warrant ("Warrant").
Each Warrant will entitle the holder to purchase one additional
common share at a price of $0.20 for a period of twelve months from
the closing date.
The Company will pay a
finder's fee equal to 6% of the gross proceeds raised, payable in
cash or Units at the option of the finders, and issue
non-transferable common share purchase warrants ("Finders'
Warrants") in the amount equal to 8% of the number of Units
subscribed for. Each Finders' Warrant will entitle the finder to
purchase one additional common share of the Company at a price of
$0.10 for twelve months from the closing date. The financing is
subject to receipt of all necessary regulatory approvals, including
the acceptance of the TSX Venture Exchange.
The Company intends to use the
net proceeds of the private placement to finance expected
expenditures on its properties and for general working
capital.
About New World
New World Resource Corp. is a
Canadian based exploration company focused on building a strong,
diversified project portfolio within the Americas. The Company's
projects include the Agua Grande gold-copper project in Chile and
the Lipena/Bonete copper-gold project in Bolivia.
NEW WORLD RESOURCE
CORP.
John Lando,
President
For
information with respect to the Company or the contents of this
news release, please contact John Lando at (604) 669-2701 or toll
free at 1-800-663-0510, email at info@newworldresource.com, or visit the web site at www.newworldresource.com.
This news release includes
"forward-looking information", as such term is defined in
applicable securities laws. The forward-looking information
includes, without limitation, statements regarding the proposed use
of proceeds of this financing. This forward-looking information is
given as of the date of this news release. Users of forward-looking
information are cautioned that actual results may vary from the
forward-looking information contained herein. While the Company has
based this forward-looking information on its expectations about
future events as at the date that such information was prepared,
the information is not a guarantee of the Company's future
performance and is subject to risks, uncertainties, assumptions and
other factors which could cause actual results to differ materially
from future results expressed or implied by such forward-looking
information. Such factors and assumptions include, amongst others,
the closing of the Offering, the use of proceeds from the Offering,
the effects of general economic conditions, changing foreign
exchange rates and actions by government authorities, uncertainties
associated with legal proceedings and negotiations and
misjudgements in the course of preparing forward-looking
information. In addition, there are also known and unknown risk
factors which could cause the Company's actual results, performance
or achievements to differ materially from any future results,
performance or achievements expressed or implied by the
forward-looking information. Known risk factors include, among
others, risks relating to exploration and development; the ability
of the Company to obtain additional financing; the Company's
limited operating history; the need to comply with environmental
and governmental regulations; political and economic instability
and general civil unrest in Bolivia; potential defects in title to
the properties; fluctuations in currency exchange rates;
fluctuating prices of
commodities; operating hazards and risks; competition; and other
risks and uncertainties. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Company is under no obligation to
update or alter any forward-looking information except as required
under applicable securities laws.
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 NEWS
RELEASE.
NOT FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
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