New Destiny Mining Corp Announces Closing Of Private Placement

New Destiny Mining Corp announced that it has closed its private placement of 2,883,000 units at CAD0.15 per unit for total gross proceeds of CAD432,450. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one common share for a period of two years at a price of CAD0.25 per share. The Company paid a total of CAD27,600 in finder's fees, issued a total of 26,640 units, the units having the same terms as those under the placement, and issued a total of 210,640 share purchase warrants to such finders. Each finder's warrant is exercisable into one common share of the Company for a period of two years at a price of CAD0.25 per share. The securities issued under the placement are subject to hold periods expiring July 20, 2012. Proceeds of the placement will be used to advance the Company's Lake LeMare Property and for general working capital.