NovaDX Announces Financing
| May 15, 2007 NovaDX Announces Financing |
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| NovaDX Ventures Corp, President & CEO, Neil MacDonald, reports: (Vancouver, BC, May 15, 2007) NovaDX Ventures Corp ("NovaDX") is pleased to announce that, subject to regulatory approval, it will conduct a non-brokered private placement of up to 10,000,000 units (the "Units") at a price of $0.30 per Unit, for gross proceeds of up to $3,000,000. Each Unit will consist of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share at a price of $0.45 per share for the first year and at $0.55 per share for the second year. All securities will be subject to a four month hold period. Finder's fees allowable pursuant to TSX Venture Exchange policies may be paid in connection with the financing. The net proceeds of the private placement will be used by NovaDX to invest in junior resource exploration companies and for working capital. "This financing represents another important milestone for NovaDX as we continue to build our business," said Neil MacDonald, CEO. "The proceeds of this financing will increase our capital base and allow us to expand the scope of our investments in select junior exploration companies. Growing our capital base will also serve to enhance our recognition in the market place which will assist us in growing revenues from our investment banking and advisory services business." About NovaDX: NovaDX is a Vancouver-based investment firm whose primary focus is on 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. 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 604-684-2883 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: Thu May 24, 2007, CSCRF 2007 No. 1 LP Announces First Closing for $6.9 Million |