NovaDX Closes Private Placement
| June 28, 2006 NovaDX Closes Private Placement |
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| June 28, 2006 -- NovaDX Ventures Corp. is pleased to announce that the Company has closed a private placement of 153,000 units at $0.30 per unit, for gross proceeds of $45,900. Each unit is comprised of one common share and one half of one share purchase warrant. Each full warrant is exercisable into an additional common share at any time up to the close of business on June 28, 2007 at a price of $0.40 per share, subject to acceleration in certain circumstances. The proceeds of the private placement are being used for general working capital purposes. The common shares and underlying securities are subject to a four month hold period expiring October 29, 2006. This private placement directly relates to, and is the final component of the acquisition of the portfolio assets held by the Canadian Small Cap Resource Fund 2004 Limited Partnership ("CSCRF"), previously announced on May 17, 2006. About NovaDX The Company is a newly created investment firm that intends to focus on small to micro-cap resource issuers, a largely overlooked but important sector of the equity markets. NovaDX's business plan involves seeking out investment opportunities for private placements of funds for working capital. In addition, NovaDX will pursue merchant banking opportunities in the natural resource sector making investments both inside and outside North America. The investment objective for NovaDX is to achieve early cash flow and ultimately earnings by investing in transactions that have the potential for exceptional returns in the junior resource sector. Investments will be made through a well-tested process that has been in part developed by the Canadian Small Cap Resource Fund flow-through limited partnerships to maximize returns while minimizing risk. The Company's investment selection will take advantage of opportunities identified from the knowledge base and industry contacts of its Board of Directors, its Advisory Committee and its Investment Advisor. 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. |