Newcastle Announces Private Placement
January 07 2011 - 2:54PM
Marketwired
Newcastle Minerals Ltd. (TSX VENTURE: NCM) is pleased to announce
that it has negotiated, subject to regulatory acceptance, a
non-brokered private placement of 1,250,000 units at a price of
$0.08 per unit. Each unit consists of one common share and one-half
of one warrant. Each full warrant, in turn, entitles the holder to
purchase an additional common share at a price of $0.12 for a
period of one year from the closing of the offering.
Aumerco Limited, a wholly owned subsidiary of Augen Capital
Corp., is the sole subscriber. Based in Toronto, Ontario, Augen
Capital Corp. is a merchant bank specializing in the financing of,
and investment in, resource companies and projects. Augen's
principals and advisors have many years of collective experience
and expertise in capital market transactions, as well as
identifying properties with substantial mineralization. Augen has
an outstanding track record in sourcing, structuring and executing
merchant banking investments in the natural resource field. In
addition, Augen acts as a consultant to issuers of mineral resource
tax-advantaged flow-through partnerships in Canada. Augen Capital
Corp. owns 11% of Augen Gold Corp.
The proceeds from the private placement will be used for general
working capital. Newcastle will pay a cash finder's fee of 8% of
the subscription proceeds in respect of the offering.
Newcastle Minerals Ltd. is a Canadian gold and base metal
exploration company trading on the TSX Venture Exchange (TSX
VENTURE: NCM). The company is advancing its three key properties:
its 120-hectare Carscallen Property in the West Timmins area of
Ontario, its 11,100-hectare Pickle Lake Property in northwestern
Ontario and its 6,600-hectare property located in the Swayze
greenstone belt of Ontario near Trelawney Mining and Exploration
Inc.'s Chester Project.
ON BEHALF OF THE BOARD
Michael Romanik, President
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Newcastle Minerals Ltd. Michael Romanik President
(204) 724-0613 info@newcastleminerals.com
www.newcastleminerals.com
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