New World Closes Non-Brokered Private Placement
March 07 2014 - 1:30PM
Access Wire
Vancouver B.C. / ACCESSWIRE / March 7, 2014 /
New World Resource Corp.
(the "Company") announces the closing of its
previously announced non-brokered private placement by issuing
3,807,812 units (the "Units") at a price of $0.08 for gross
proceeds of $304,624.96
Each Unit consists of one
common share and one common share purchase warrant ("Warrant").
Each Warrant entitles the holder to purchase one additional common
share at a price of $0.20 until March 7, 2015.
In connection with the private
placement, the Company paid finders' fees of $11,200, issued 18,750
finders' Units, with the same terms and conditions as the Units
issued under the private placement, and issued 212,000
non-transferable share purchase warrants ("Finders' Warrants") to
Haywood Securities Inc., Mackie Research Capital Corp, Canaccord
Genuity Corp. and Raymond James Ltd. Each Finders' Warrant entitles
the holder to purchase one additional common share of the Company
at a price of $0.10 expiring on March 7, 2015.
The Units are subject to a
4-month hold period expiring July 8, 2014. 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 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.
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