Trading: Canadian Trading and Quotation System Inc. ("CNQ")
Symbol: "NOVA"
TORONTO, Oct. 30 /CNW/ - Nova Growth Corp. (the "Company") trading on CNQ (www.cnq.ca) under the symbol "NOVA" announces the following.
The Company announces that it has filed its July 31, 2007 Audited Financial Statements. The July 31, 2007 Audit together with the Management Discussion and Analysis and other Securities Commissions and Exchange required documents have also been filed. These documents can be viewed at www.sedar.com and at www.cnq.ca as described at the end of this release.
The Company will be announcing in due course the date and time of its Annual and General Meeting of shareholders. Shareholders of record will be entitled to vote at the meeting. Details in respect of this meeting will be mailed to all shareholders of record.
The Company is continuing in its efforts to secure up to $1,000,000 by way of a private placement financing. Proceeds from this offering will be used to reduce the Company's loan account, reduce the Company's accounts payable account and provide general working capital for its ongoing expenses.
Nova Growth Corp. has 5,418,017 common shares outstanding, 670,000 Stock Options to purchase common shares at $1.50 per share expiring March 31, 2008 and 862,000 Warrants to purchase common shares at $0.50 per share expiring February 28, 2010. As such, the fully diluted share capital position of the Company is 6,950,017.
Nova Growth Corp. is an Ontario public company. Since March 13, 1998 the Company has been pursuing its claim to an ownership interest in the Niagara Falls Casino Gateway Project located in Niagara Falls, Ontario. This project was awarded to a consortium on February 18, 1998. The claim, Court File No. 98-CV-143556 is against Falls Entertainment and against former management of the Company, Andrzej Kepinski, Richard Boxer, and their holding companies. In addition, the Company is pursuing two other actions in the Courts of Ontario against Shiplake Casino Corp. and Park Gaming L.P., Court File No. 00-CV-197099 and Coopers & Lybrand, et al, Court File No. 98-CV-149051.
To review Nova Growth's public documents please visit www.sedar.com and search Nova Growth Corp. For trading and other corporate information visit www.cnq.ca under the trading symbol "NOVA".