Welcome!

News Feed Item

New Destiny Signs Option Agreement With Central America Mining Corp. and Announces Private Placement

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/30/14 -- New Destiny Mining Corp. ("New Destiny" or the "Company") (TSX VENTURE:NED) announces that it has entered into an option agreement (the "Option Agreement") dated June 26, 2014 with Central America Mining Corp. ("CAMC") whereby CAMC granted the Company the option to acquire 80% of the issued and outstanding shares of Central America Mining Corporation S.A. ("CAMC SA") held by CAMC and therefore to indirectly earn an 80% interest in the 8,570.36 hectare Fuente De Oro property (the "Property") located in the Santa Domingo district of Nicaragua.

CAMC SA is recorded and beneficial owner of one hundred percent (100%) of the right, title and interest in and to the Property. Under terms of the Option Agreement, subject to TSX Venture Exchange (the "Exchange") approval, New Destiny has the option to earn a 80% interest in CAMC SA by completing $500,000 in exploration expenditures on the Property, making $250,000 in cash payments to CAMC and issuing CAMC 7,000,000 common shares over the next three years as follows:

----------------------------------------------------------------------------
                                                         Share   Expenditure
Date                                  Cash Payment    Issuance   Requirement
----------------------------------------------------------------------------
Within five days from the date of                                           
Exchange approval of the Option            $75,000   3,000,000              
Agreement (the "Acceptance Date")   ($15,000 paid)      Shares       $50,000
----------------------------------------------------------------------------
On the date which is one year and                    2,000,000              
a day from the Acceptance Date             $75,000      Shares      $200,000
----------------------------------------------------------------------------
On the date which is two years                       2,000,000              
from the Acceptance Date                   100,000      Shares      $250,000
----------------------------------------------------------------------------
Total                                     $250,000   7,000,000      $500,000
----------------------------------------------------------------------------

The Company also announces that, subject to regulatory approval, it will conduct a non-brokered private placement (the "Private Placement") of up to 7 million units (the "Units") at a price of $0.05 per Unit to raise gross proceeds of $350,000. Each Unit will consist of one common share of the Company and one transferable share purchase warrant (a "Warrant"). Each Warrant shall be exercisable to acquire one additional common share for a period of two years at a price of $0.08 per share. New Destiny will also pay a finder's fee in accordance with the policies of the Exchange and applicable securities legislation.

The Company will use the proceeds from the Private Placement to complete the NI 43-101 report on the Property, to make payments to CAMC required under the Option Agreement, and for general working capital.

All securities issued under the Private Placement are subject to a hold period expiring four months and one day after the closing date. Closing of the Private Placement is subject to Exchange approval.

ON BEHALF OF THE BOARD OF DIRECTORS

Robert L. Birmingham, President

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
New Destiny Mining Corp.
604) 783-0499

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We do one of the best file systems in the world. We learned how to deal with Big Data many years ago and we implemented this knowledge into our software," explained Jakub Ratajczak, Business Development Manager at MooseFS, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
When applications are hosted on servers, they produce immense quantities of logging data. Quality engineers should verify that apps are producing log data that is existent, correct, consumable, and complete. Otherwise, apps in production are not easily monitored, have issues that are difficult to detect, and cannot be corrected quickly. Tom Chavez presents the four steps that quality engineers should include in every test plan for apps that produce log output or other machine data. Learn the ste...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning provides predictive models which a business can apply in countless ways to better understand its customers and operations. Since machine learning was first developed with flat, tabular data in mind, it is still not widely understood: when does it make sense to use graph databases and machine learning in combination? This talk tackles the question from two ends: classifying predictive analytics methods and assessing graph database attributes. It also examines the ongoing lifecycl...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear these words all day every day... lofty goals but how do we make it real? Add to that, that simply put, people don't like change. But what if we could implement and utilize these enterprise tools in a fast and "Non-Disruptive" way, enabling us to glean insights about our business, identify and reduce exposure, risk and liability, and secure business continuity?
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the tec...