Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
TORONTO, ONTARIO–(Marketwire – Jan. 27, 2012) – Newstrike Resources Ltd. (TSX VENTURE:NR) (“Newstrike”) is pleased to announce that it proposes to complete a non-brokered private placement pursuant to which it will issue a minimum of 1,500,000 and a maximum of 2,000,000 units (“Units”) at a price of $0.185 per Unit to raise aggregate gross proceeds of a minimum of $277,500 and a maximum of $370,000. Each Unit will consist of one common share and one-half of one share purchase warrant of Newstrike, with each whole such share purchase warrant entitling the holder thereof to acquire one additional common share of Newstrike for a period of 12 months at an exercise price of $0.27 per share, provided that if the closing price of the common shares of Newstrike is equal to or higher than $0.35 per share for a period of 20 consecutive trading days at any time after four months and one day after the closing, Newstrike may accelerate the expiry date of the Warrants to the 30th day after the date on which notice of the accelerated expiry date is announced via press release by Newstrike.
The private placement remains subject to the approval of the TSX Venture Exchange.
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Newstrike, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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 RELEASE.
