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
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
Cloud resources, although available in abundance, are inherently volatile. For transactional computing, like ERP and most enterprise software, this is a challenge as transactional integrity and data fidelity is paramount – making it a challenge to create cloud native applications while relying on RDBMS. In his session at 21st Cloud Expo, Claus Jepsen, Chief Architect and Head of Innovation Labs at Unit4, will explore that in order to create distributed and scalable solutions ensuring high availa...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
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...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.