Vancouver, BC, February 18th, 2014. Newport Exploration Ltd. ("Newport" or the "Company"), is pleased to announce that is has arranged, subject to regulatory approval, a non-brokered private placement for gross proceeds of CAD $2,200,000. The private placement will consist of 20,000,000 units priced at CAD $0.11 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant is exercisable for a period of two years from closing to acquire one common share at a price of CAD $0.14 per share. The shares and warrants underlying the units will be subject to hold periods in accordance with the TSX Venture Exchange policies and applicable securities laws. The financing will provide the Company with additional capital in order to fund continued work on the Chu Chua property and to act in a timely matter on new opportunities that may arise.
No finders' fees are payable 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
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Vancouver, BC, February 18th, 2014. Newport Exploration Ltd. ("Newport" or the "Company"), is pleased to announce that is has arranged, subject to regulatory approval, a non-brokered private placement for gross proceeds of CAD $2,200,000. The private placement will consist of 20,000,000 units priced at CAD $0.11 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant is exercisable for a period of two years from closing to acquire one common share at a price of CAD $0.14 per share. The shares and warrants underlying the units will be subject to hold periods in accordance with the TSX Venture Exchange policies and applicable securities laws. The financing will provide the Company with additional capital in order to fund continued work on the Chu Chua property and to act in a timely matter on new opportunities that may arise.