Nova Growth Corp. Closes Private Placement

About this update from Eranova Metals Inc.

[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 12 /CNW/ - Nova Growth Corp. (the "Company") trading on CNQ\n(www.cnq.ca) under the symbol "NOVA" is pleased to announce the closing today\nof the private placement announced by the Company on October 30, 2007. Under\nthe terms of this private placement, the Company issued 1,631,730 common\nshares at a price of $0.50 per common share, for gross proceeds of $815,565.\nThe proceeds of the private placement were used to cancel debt owed by the\nCompany to the subscribers in the aggregate amount $815,565.\n\n\nThe common shares issued in connection with the private placement are\nrestricted from resale until March 13, 2008.\n\n\nAfter giving effect to the private placement, the Company has, issued and\noutstanding: (i) 7,049,747 common shares, (ii) 270,000 stock options to\npurchase common shares at $1.50 per share expiring March 31, 2008, and (iii)\n862,000 warrants to purchase common shares at $0.50 per share expiring\nFebruary 28, 2010. As such, the fully diluted share capital position of the\nCompany is 8,181,747.\n\n\nNova Growth Corp. is an Ontario public company. Since March 13, 1998 the\nCompany has been pursuing its claim to an ownership interest in the Niagara\nFalls Casino Gateway Project located in Niagara Falls, Ontario. This project\nwas awarded to a consortium on February 18, 1998. The claim, Court File No.\n98-CV-143556 is against Falls Entertainment and against former management of\nthe Company, Andrzej Kepinski, Richard Boxer, and their holding companies. In\naddition, the Company is pursuing two other actions in the Courts of Ontario\nagainst Shiplake Casino Corp. and Park Gaming L.P., Court File No.\n00-CV-197099 and Coopers & Lybrand, et al, Court File No. 98-CV-149051.\n\n\nTo review Nova Growth's public documents please visit www.sedar.com and\nsearch Nova Growth Corp. For trading and other corporate information visit\nwww.cnq.ca under the trading symbol "NOVA".\n\n\n","length":2012,"tagName":"div"}]

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