NovaDX Completes Financing and Debt Settlement
| March 07, 2006 NovaDX Completes Financing and Debt Settlement |
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| March 07, 2006 -- the Company is pleased to announce that it has closed a non-brokered private placement of 1,507,000 Units at $0.25 per Unit, for gross proceeds of $376,750. Each Unit is comprised of one common share and one half share purchase warrant. Each full warrant is exercisable into an additional common share at any time up to close of business on March 7, 2007, at a price of $0.30 per share, subject to acceleration in certain circumstances. The proceeds of the private placement will be used for working capital purposes. Securities issued pursuant to the private placement are subject to a four month hold period expiring July 7, 2006. The Company has also issued an aggregate of 1,197,644 common shares at a price of $0.25 per share in settlement of substantially all of its outstanding indebtedness totalling $299,411. The shares are subject to a hold period of four months which will expire on July 7, 2006. For more information, please contact Scott Ackerman at 1-866-824-8938. |
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You can view the Next NovaDX Corporate News item: Fri Mar 10, 2006, NovaDX Makes Offer to Acquire Resource Company Portfolio |