Newport Exploration Ltd.: Closing of Non-Brokered Private Placement
10.03.2014 | vom Unternehmen
Vancouver, BC, March 10, 2014. Further to its news release of February 18, 2014, Newport Exploration Ltd. ("Newport" or the "Company"), reports it has received final acceptance through a TSX Venture Exchange bulletin issued on March 7, 2014 and has now completed a non-brokered private placement resulting in the issuance of 20,000,000 units at a price of $0.11 per unit for gross proceeds of CAD$2,200,000. Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to acquire a further common share of the Company at a price of CAD$0.14 per share until March 7, 2019.In accordance with applicable securities laws, the shares and warrants will be subject to a four month hold period expiring July 11, 2014.
No finders' fees were paid in connection with this financing.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the contents of this news release.
For further information contact:
Newport Exploration Ltd.
Barbara Dunfield, Director and Chief Financial Officer
604-685-6851
info@newport-exploration.com