NovaDX Closes $12 million Private Flow-Through Agreement, Bringing Total Funds Under Administration to $40 million in 2007
(Vancouver, BC, August 8th, 2007) NovaDX Ventures Corp ("NovaDX", "the Company") is pleased to announce that it has entered into an exclusive agreement with a private client to assist in the placement of up to $12 million in flow-through shares of Canadian resource exploration companies. The agreement with this private client is the product of a separate remit and comes in addition to and only four weeks after NovaDX announced the closing of $10.3 million in flow-through units offered by Canadian Small Cap Resource Fund 2007 No. 1 Limited Partnership, the most recent limited partnership organized and fully managed by the Company. As a result of both events, the Company is now engaged to administer up to $22.3 million in flow-through funds in 2007, bringing the total funds under administration and management by NovaDX to $40 million. "We are pleased and very proud to have been selected to assist this private client in the placement of these funds into flow-through shares," said CEO Neil MacDonald. "This private client has selected NovaDX because of our ability to structure such placements, as indicated by our successful track record in the micro-cap resource flow-through sector. This is a strong affirmation of NovaDX's growing reputation as a leading, specialized investment firm focused on identifying and structuring wealth creating opportunities in the early stage resource sector." Under the terms of the agreement with the private client, NovaDX will act on a best efforts basis as the sole and exclusive agent to assist the private client in identifying, researching, negotiating and placing up to $12 million in flow-through shares of Canadian mining and oil & gas companies. The Company will also oversee the preparation and delivery of tax and other documentation as required. New Investment Banking Professional Joins NovaDX NovaDX is also pleased to announce the appointment of Peter Watson to the position of Vice President, Investment Banking. Peter is a well known corporate finance and marketing executive and brings with him valuable expertise, experience and a wealth of global contacts for NovaDX's corporate finance and investment banking activities. With over 25 years experience in corporate finance and strategic business development, Mr. Watson has proven record of advising many private and public junior companies to successfully achieve their financing goals and strategic business objectives. Peter currently sits on the board of a number of public & private companies in both Canada and the United States About NovaDX: NovaDX is a Vancouver-based investment firm whose primary focus is on providing merchant banking and other business advisory services to 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 discoveries. 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. NovaDX seeks a return on its investments supplemented with revenue from investment banking, investment management and advisory services. 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. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction. 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 Neil MacDonald or Rick Peterson at 604-633-2776 or send us an email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . |
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You can view the Next NovaDX Corporate News item: Wed Sep 12, 2007, NovaDX Announces New Appointments (CFO, CCO, VP Marketing and Corporate Development, VP Operations and Administration) |