Business
Network closes private placement as part of reactivation
Network closes private placement as part of reactivation.
About this update from Ynvisible Interactive Inc. Class A
[{"type":"text","content":"\n\n\n\nVANCOUVER, Sept. 11 /CNW/ - Network Exploration Ltd. (the "Company")\n(TSX.V: NET.H) is pleased to announce that the Company has received\nTSX-Venture Exchange approval to close its non-brokered private placement of\n$859,400.\n\n\nThe placement closed September 7, 2007 and the Company issued 4,297,000\nUnits at a price of $0.20 per Unit. Each Unit consists of one common share and\none share purchase warrant entitling the holder to purchase one further common\nshare for a period of one year from closing at a price of $0.25.\n\n\nFinder's fees of $62,064 in cash have been paid and 41,625 Finder's Units\nat a price of $0.20 per Unit have been issued. Each Finder's Unit consists of\none common share and one finder's warrant with each finder's warrant entitling\nthe holder to purchase an additional common share for a period of one year\nfrom the date of issuance at a price of $0.25.\n\n\nAll securities issued or made issuable under the private placement are\nsubject to a four month hold period from the closing date and will become free\ntrading 4 months and one day from the closing date.\n\n\nThe Private Placement is an integral part of the Company's reactivation\nas a Tier II company. The TSX Venture Exchange has conditionally approved the\nreactivation and accordingly, the transfer from the NEX board to Tier II is\nexpected to occur within the next week.\n\n\nThe proceeds from this financing will be used for the Company's upcoming\ndrill program at its Caldera property in Chile, geological expenses, due\ndiligence for new acquisitions, and for general corporate purposes.\n\n\nNetwork Exploration Ltd. is a mineral exploration Company committed to\nbuilding shareholder value through the acquisition of base and precious metal\nproperties in North and South America.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\n"Alexander Helmel"\n\n\nPresident\n\n\n-------------------------------------------------------------------------\n\n\nTHE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS\nRELEASE. This news release contains certain "Forward-Looking Statements"\nwithin the meaning of Section 21E of the United States Securities Exchange Act\nof 1934, as amended. All statements, other than statements of historical fact,\ninclu...