Newmac Resources Arranges $700,000 Private Placement
June 8,
2007
Newmac Resources
Inc. (TSX-V: NER) has negotiated,
subject to acceptance by the TSX Venture Exchange, a private placement of up to
$700,000 with certain placees. This placement is in addition to the previously
announced private placement of up to $1-million (see Stockwatch, May 16, 2007).
These funds will be raised by the company issuing:
- 300,000 flow-through (FT) units at a price of 40 cents
per FT unit, each FT unit consisting of one flow-through common share and
one-half of a non-transferable share purchase warrant, each warrant entitling
the holder thereof to purchase one additional non-flow-through common share,
exercisable for a period of one year from the date of issuance at a price of
60 cents per share;
- One million non-flow-through (NFT) units at a price of 40
cents per NFT unit, each NFT unit consisting of one non-flow-through common
share and one non-transferable share purchase warrant, each warrant entitling
the holder thereof to purchase one additional non-flow-through common share,
exercisable for a period of one year from the date of issuance at a price of
50 cents per share.
Proceeds from the FT unit private placement will be used to
explore the company's properties located in British Columbia. This exploration
work will qualify as Canadian exploration expense for the purposes of the Income
Tax Act (Canada), which will then be renounced by the company to the placees.
The remaining proceeds will be used for general working
capital purposes. A finder's fee of 7.5 per cent will be paid on the proceeds of
this private placement.
We seek Safe Harbor.
Dale Paruk
Coal Harbor Communications Inc.
Suite 701, 555 Jervis Street
Vancouver BC
Canada V6E 4N1
Tel: 604-662-4505
Fax: 604-662-4547
 
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Newmac Resources Inc.
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CODE : NER.V |
ISIN : CA6515223023 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Newmac Resources is a molybdenum and tungsten exploration company based in Canada. Newmac Resources holds various exploration projects in Canada. Its main exploration properties are NEWMAC PROJECT, CHILANKO PROPERTY and CRAZY FOX in Canada. Newmac Resources is listed in Canada and in Germany. Its market capitalisation is CA$ 2.8 millions as of today (US$ 2.2 millions, € 2.0 millions). Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.02, and its highest recent level on November 26, 2010 at CA$ 4.00. Newmac Resources has 9 716 042 shares outstanding. |