$2.55 Million Private Placement
Mar 26, 2004
NU XMP Ventures Limited ("NUX") is pleased to announce that it has negotiated a private placement of up to 3,000,000 Units at $0.85 per Unit for gross proceeds of up to $2,550,000. Each Unit consists of one common share and one half of one Share Purchase Warrant. One full Share Purchase Warrant will entitle the holder to acquire an additional common share at $1.25 per share for a period ending on the earlier of (a) 12 months from closing, and (b) 30 days following the date that the shares of the Company have closed at $2.00 or higher over 60 consecutive calendar days. Finders' fees will be payable. The foregoing is subject to regulatory approval.
The proceeds from the private placement will be used by the Company for exploration programs, including on its prospective property in China, and for working capital.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
ON BEHALF OF THE BOARD OF NU XMP VENTURES LIMITED
Per: "Joanne Yan"
Joanne Yan
Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.
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