New Global Ventures International Ltd
			Symbol			NNG
			Shares Issued			1,619,054
			Close 2008-10-03			C$ 0.30
			Recent Sedar Documents

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 $1.5-million financing

2008-10-07 09:11 ET - News Release

Mr. Mark Lawson reports

NEW GLOBAL CLOSES $1.5 MILLION PRIVATE PLACEMENT AND RECEIVES FINAL APPROVAL FOR ITS CHANGE OF BUSINESS

The TSX Venture Exchange has given final approval to the New Global Ventures International Ltd.'s change of business application, which involves the acquisition of an interest in the Mormon Lake property, comprising 333 claims, located in Gila county, Arizona (see the company's news release in Stockwatch on June 11, 2008). The company has filed a filing statement on SEDAR which discloses the details of the acquisition and the part-and-parcel private placement arranged in connection with the acquisition.

The company has now closed both the property acquisition and its concurrent $1.5-million private placement. In that regard, the company has issued a total of 10 million common shares to the 53 shareholders of Patriot Power Corp., the vendor of the Mormon Lake property, and has issued a total of 9,132,765 units on closing of the second tranche of its private placement (at 16.5 cents per unit for gross proceeds of $1,506,906). No single Patriot shareholder will hold more than 5 per cent of the outstanding shares of the company following closing. All shares and warrants issued pursuant to the private placement will be subject to a four-month hold period, and all shares issued to the Patriot shareholders will be subject to resale restrictions such that one-third may be traded four months after the date of issuance, one-third after eight months, and the balance after 12 months. None of the securities issued under the acquisition or the private placement will be subject to escrow restrictions. Each private placement unit consists of one common share and one common share purchase warrant exercisable for two years at 33 cents per share.

The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try, click here for a free 30 day trial subscription.