VANCOUVER, BC, Nov. 6, 2020 /CNW/ - New Dimension Resources
Ltd. (TSXV: NDR) (the "Company", New Dimension" or "NDR") is
pleased to announce that, after having received regulatory
acceptance, the following Corporate changes will take effect at
market open on Tuesday, November 10,
2020.
- Change of Name and New Trading Symbol: The Company will
change its name to Capella Minerals Limited and will
commence trading under its new name and stock trading symbol
TSX.V-CMIL.
- The Company has no plans to change its current share structure,
however, the Company's new CUSIP will be 13960M102 and ISIN
CA13960M1023. The Company's new website will also be available at
www.capellaminerals.com
The Capella Minerals name reflects the next stage of the
Company's growth strategy with a focus on the discovery of
high-grade gold and base metals deposits in Canada and Scandinavia. The Company's active
exploration portfolio includes three high-grade gold projects - the
Domain and Savant Lake Joint Venture's in Canada, plus the recent Southern Gold Line
acquisition in Sweden – and two
high-grade copper assets – Løkken and Kjøli – located in
past-producing mining districts in Norway.
Eric Roth, New Dimension's
President and CEO, commented today: "Given the Company's renewed
focus on precious and base metals projects located in the Northern
Hemisphere, the selection of the name Capella Minerals going
forward is most appropriate. I am particularly excited by the
potential for near-term discovery at both our Løkken and Kjøli
projects, given the existence of numerous untested targets
(including "walk-up" drill targets) along strike from previous
mining operations. In addition, the Company holds direct interests
in three high-grade gold projects – the Yamana Gold JV at Domain
(Manitoba), the Ethos Gold JV at
Savant Lake (Ontario), and our
100% interest in the Southern Gold Line project (Sweden) – all with significant upside
potential.
These exciting new brownfields projects and existing gold
projects complement the Company's invigorated growth strategy of
positioning itself for the current buoyant gold market as well as
the potential uplift in future economic demand for attractive base
metals, especially copper which is critical to the clean energy
sector. I look forward to keeping the market informed as we move
projects towards drilling and discovery."
Incentive Stock Option Grant
The Company also reports that the Board of Directors has granted
an aggregate 4,980,000 incentive stock options to directors,
officers, employees and key consultants to the Company. The stock
options are exercisable at a price of $0.12 per share and will have a term of 3 years,
expiring on November 4, 2023. Each
stock option will allow the holder to purchase one common share of
the Company. All stock options granted are subject to staged
vesting periods.
Qualified Persons and Disclosure Statement
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements set out in NI
43-101, and approved by Eric Roth,
the Company's President & CEO, a director and a Qualified
Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic
Geology from the University of Western
Australia, is a Fellow of the Australian Institute of Mining
and Metallurgy (AusIMM), and is a Fellow of the Society of Economic
Geologists (SEG). Mr. Roth has over 25 years of experience in
international minerals exploration and mining project
evaluation.
On Behalf of the Board of New Dimension Resources Ltd.
"Eric
Roth"
___________________________
Eric Roth, Ph.D.,
FAusIMM
President & CEO
About New Dimension Resources Ltd
New Dimension is engaged in the acquisition, exploration, and
development of quality mineral resource properties in favourable
jurisdictions with a focus on high-grade gold and base metal
deposits. The Company's precious metals focus is on the discovery
through exploration of high-grade gold deposits on its recently
optioned Southern Gold Line Project (Sweden), as well as on its active Joint
Ventures with Ethos Gold Corp. at Savant Lake (Ontario) and Yamana Gold Inc. at Domain
(Manitoba), and the divestiture of
Sierra Blanca (Argentina) to Austral Gold Ltd. The Company's
base metals focus is on the discovery of high-grade copper-rich VMS
deposits on the district-scale land positions around the
past-producing Løkken and Kjøli mines in central Norway. Field activities are underway on all
projects, with the primary focus being to advance priority targets
to drilling.
Cautionary Notes and Forward-looking
Statements
This news release contains forward-looking
information within the meaning of applicable securities
legislation. Forward-looking information is typically
identified by words such as: believe, expect, anticipate,
intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. Such
statements include, without limitation, statements regarding the
future results of operations, performance and achievements of New
Dimension, including the timing, completion of and results from the
exploration and drill programs described in this release.
Although the Company believes that such statements are
reasonable, it can give no assurances that such expectations will
prove to be correct. All such forward-looking information is
based on certain assumptions and analyses made by New Dimension in
light of their experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors management believes are appropriate in the
circumstances. This information, however, is subject to a variety
of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected
in the forward-looking information. Important factors that could
cause actual results to differ from this forward-looking
information include those described under the heading "Risks and
Uncertainties" in New Dimension's most recently filed MD&A. New
Dimension does not intend, and expressly disclaims any obligation
to, update or revise the forward-looking information contained in
this news release, except as required by law. Readers are cautioned
not to place undue reliance on forward-looking information.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
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SOURCE New Dimension Resources Ltd.