Neil MacDonald to join NovaDX as Chief Executive Officer
| September 28, 2006 Neil MacDonald to join NovaDX as Chief Executive Officer |
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| September 28, 2006 -- NovaDX Ventures Corp. is pleased to announce the appointment of Neil MacDonald as Chief Executive Officer of the Company effective October 4, 2006. Mr.MacDonald will also be appointed to the Board of Directors of the Company. Mr. MacDonald'sappointment adds to the depth of expertise in the corporate finance, financial advisory and investment banking activities NovaDX is pursuing as a merchant bank with a focus on the juniorresource exploration sector. Neil MacDonald brings to NovaDX over 14 years of experience in advising and financing earlystage companies. Prior to joining NovaDX, Mr. MacDonald was Manager of Retail CorporateFinance with Blackmont Capital Inc. Prior to Blackmont he served as a corporate finance partnerwith Goepel McDermid, McDermid St. Lawrence Securities and Canaccord Capital. Mr.MacDonald has served on the TSX Venture Exchange Advisory committee as well as the IDAPacific District Counsel. Mr. MacDonald noted, "NovaDX has a unique opportunity to become a leading merchant bank inthe resource exploration sector. Our goal is to workwith proven management of companies with promising properties and opportunities. The needs of junior exploration companies are uniqueand at NovaDX we understand those needs. We are not only a source of conventional equitycapital, but as a merchant bank we can be flexible. We can meet the needs of companies throughcreative project financing, royalty transactions, debt and bridge financing. We intend to investfor the long term and believe that by backing proven management with innovative financing and professional strategic advice we will have a tremendous opportunity to build wealth for ourshareholders through exposure to new resource discoveries in Canada and abroad. NovaDX is notjust an investor. By providing investment banking and advisory services to our client companies we believe that we can enhance the value of our investments while building revenue beyondcapital appreciation of our investment portfolio." NovaDX also announces that it intends to raise up to $365,000, consisting of 1,825,000 units ("Units") of the Company at $0.20 per unit. Each Unit will consist of one common share and onewarrant to entitling the holder to purchase and additional common share at $0.40 per share for aperiod of 2 years, subject to acceleration in certain circumstances. Mr. MacDonald has agreed to invest $240,000 in this financing through the purchase of1,200,000 Units. "In evaluating an investment opportunity I look to see that management has afinancial commitment to the company. It's no different here. We intend to raise additional capital for NovaDX and by making this investment I believe that I am demonstrating to existingshareholders and new investors alike that I am committed to building this Company," said Mr.MacDonald. The financing will also include subscriptions from other insiders and consultants. The Company also announces that Stephen Wilkinson will step down as CEO of NovaDX andassume the role of Chairman of the board of directors. The Company also announces, in accordance to the Company's Stock Option Plan, that it has granted an aggregate of 300,000 incentive stock options exercisable for a period of five years at aprice of $0.22 per share. About NovaDX NovaDX is a newly created merchant banking firm that is focusing on small and micro-cap natural resource issuers, a largely overlooked but important sector of the equity markets. NovaDX's business plan involves seeking out investment opportunities in companies that have quality management and projects that demonstrate an above average opportunity for new resource discovery. NovaDX works closely with management of these companies with the objective of mitigating risk and enhancing the value of its investments. NovaDX intends to pursue opportunities in North America and abroad. As a merchant bank, NovaDX seeks a return on its investments supplemented with revenue derived from providing investment banking and advisory services to this sector. ON BEHALF OF THE BOARD The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. For more information, please contact Stephen Wilkinson at 1-888-350-8818 or 604-331-1223. |