Newmac Resources Inc. (TSX-V: NER, Frankfurt: N3M) “Newmac” is pleased to announce that the private placement announced March 4, 2008 has received TSX Venture Exchange approval and that Newmac has now issued 3,000,000 non flow through units at a price of $0.80 per unit to Sprott Molybdenum Participation Corporation (TSX: MLY). Each unit consists of one non flow-through common share and one half of a share purchase warrant to purchase an additional common share at a price of $1.00 per share until March 18, 2009. These securities issued are subject to a 4 month hold period expiring July 19, 2008.
Sprott Molybdenum Participation Corporation is an investment holding company created to invest in Molybdenum Assets.
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