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Private Placement: New Destiny Mining (TSXV:NED)

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The company is looking to raise gross proceeds of up to $200,0000 from the placement of up to 2 million flow through units priced at $0.10 per unit. The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.15 for 18 months

Additional Information:

Company: New Destiny Mining
Website: http://www.newdestinymining.com
Stock Symbol: TSXV:NED
Date Published: Dec 2, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

New Destiny Mining has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $200,0000 from the placement of up to 2 million flow through units priced at $0.10 per unit.

The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.15 for 18 months

The shares are currently trading at $0.07.

The net proceeds will be used for continued exploration work at the company's Treasure Mountain property.

The Treasure Mountain Silver Property, located near Tulameen, approximately 30 kilometres east/northeast of Hope, British Columbia, covers 10,918 hectares that are under option from Ximen Mining.

The claims, which cover eight mineral occurrences including silver, gold, lead, zinc and copper, and numerous historic mine adits and trenches, partially surround Nicola Mining’s Treasure Mountain property, which hosts the historic Treasure Mountain silver-lead-zinc mine.

The British Columbia MINFILE and Mineral Assessment Report Records highlighted the following historic work within the Treasure Mountain Silver property.

At the Rainy occurrence, 2011 grab samples from rock piles near an adit were reported to return 6.5, 7.4 and 11.9% zinc.

At the Spokane gold occurrence, a sample from 1913 reported 4.11 grams per tonne gold over 0.9 meters across the zone.

At John Bull, a channel sample from 1937 reported 9.6 grams per tonne gold over 0.18 meters across a quartz vein.

At the Railroad creek area copper showing, two 2011 grab samples from rock piles near adits were reported to exceed 1% copper and up to 76.4 grams per tonne silver.

And at Rio Grande, a 1.5 meter chip sample across a shear zone was reported in 1929 to return 1.2% zinc.

For more information, please visit the company’s website at www.newdestinymining.com, call 604-488-3900 or
email IR@NewDestinyMining.com.

I’m Cassandra Bolinski for Investmentpitch Media