This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:New Global Ventures closes first tranche of financing 2008-07-16 14:25 ET - News Release
Mr. Ian Stuart reports NEW GLOBAL CLOSES TRANCHE 1 OF $1.65 MILLION FINANCING
In Stockwatch news dated June 11, 2008, New Global Ventures International Ltd. announced a proposed acquisition of certain claims known collectively as the Mormon Lake property, located in Gila county, Arizona. In conjunction with the proposed acquisition, the company arranged a part-and-parcel private placement of 10 million units at a price of 16.5 cents per unit for gross proceeds of $1.65-million, with an overallotment option of up to 15 per cent of the number of units sold. Each unit will consist of one common share and one common share purchase warrant. Each warrant shall be convertible into one common share at a price of 33 cents for a period of two years.
The TSX Venture Exchange approved the closing of tranche 1 of the private placement, with net proceeds to be applied for working capital, and to pay for the costs related to obtaining regulatory approval of the proposed acquisition and closing of the property transaction.
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