Novawest Resources Inc. - Private placements arranged

About this update from Vanadiumcorp Resource Inc

[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 20 /CNW/ - Novawest Resources Inc. (TSXV - "NVE";\nFrankfurt - "NWN"), and its Board of Directors are pleased to announce that\nthe Company has arranged Private Placements totaling $875,000 Cdn comprised of\n4,375,000 units, at a price of $0.20/Unit. The private placements are\ncomprised of both flow-through and non-flow-through units.\n\n\nThe above $875,000 Cdn is comprised of $660,000 flow-through funds and\n$215,000 working capital. The Company will issue 3,875,000 one-half warrants\nexercisable for a period of 24 months. Upon exercise of two one-half warrants\nand payment of $0.25 Cdn, warrant holders will be issued one non flow-through\ncommon share. The Company will also issue 500,000 full warrants which each\nwill be exercisable within a period of 24 months and payment of $0.25 Cdn for\none common share.\n\n\nFinder's fees may be paid on these transactions, subject to the policies\nof the TSX Venture Exchange. All shares issued will be subject to a hold\nperiod per the policies of the TSX Venture Exchange, and these Private\nPlacements are subject to the approval of the TSX Venture Exchange.\n\n\nNovawest invites the public to visit its website at\nhttp://www.Novawest.com or e-mail us at [email protected] to be added to\nthe Company's e-mail list for press releases and updates.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS OF NOVAWEST RESOURCES INC.\n\n\n"Patrick D. O'Brien"\n\n\n-------------------------------\n\n\nPatrick D. O'Brien - Chairman\n\n\nNovawest invites the public to visit its website at\nhttp://www.novawest.com or e-mail the company at [email protected] to be\nadded to the company's e-mail list for press releases and updates.\n\n\nS.E.C.Exemption12(g)3-2(b) File No. 82-3822, Standard & Poors Listed, Dun\n& Bradstreet Listed\n\n\nTHE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT\n\n\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS\n\n\nRELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN\n\n\nOFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT\n\n\nUNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS\n\n\nRELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS\n\n\nAND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTU...

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