January 13 2016 -- New Carolin Gold Corp. (the 'Company' or 'New Carolin') (TSXV: LAD)
announces that the Company has received approval from the TSX Venture Exchange and will issue 566,216 common shares at a price of $0.05 per share to its secured Term Loan holders (the 'Lenders') for interest payable in the amount of $28,311 to December 31, 2015. Shares issued for the interest payments will be subject to a four-month plus one day hold period from their date of issuance.
For the majority of the noteholders, this will be the final interest payment on their Term Loans, 12 of the 14 remaining Lenders having converted their secured loan to equity at year's end, as announced in the Company's news release of January 6, 2016. As reported, there is now only $25,000 of principal remaining on the secured Term Loans from an initial principal amount of $615,000.
About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our strategic 144 sq. kms of contiguous mineral claims, collectively known as the Ladner Gold Project. The project is located near Hope, BC, in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects. For additional information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
'Robert L. Thast'
President & Chief Executive Officer
Phone: 778.294.3211
Cell: 604.220.5031
E-mail: [email protected]
Web site: www.newcarolingold.com
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 the accuracy of this press release. We seek Safe Harbor.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.