Newmac Resources Inc. (TSX-V: NER; Frankfurt: N3M) has negotiated, subject to acceptance by the TSX Venture Exchange, a private placement of up to $900,000 with certain placees.
These funds will be raised by the company issuing up to 1,000,000 units at a price of $0.90 per unit, each unit consisting of one common share and one non-transferable share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of one year from the date of issuance at a price of $1.10 per share.
Proceeds of $900,000 raised from this private placement will be used for general working capital purposes, and the continued exploration of the company’s Crazy Fox Molybdenum project, as well as the company’s other projects.
A finders fee may be payable on a portion of this Private Placement.
This Private Placement replaces the Private Placement announced on February 23, 2006.
ON BEHALF OF THE BOARD
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Newmac Resources Inc.’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof.
THE TSX VENTURE EXCHANGE DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For Further Information Contact David Hjerpe, President at: (604) 461-7211