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Next Gen Metals Inc. (the “Company”) (CNSX: N)
is pleased to announced that, further to its news release dated September 23, 2009, the
non-brokered private placement of 12,000,000 common shares at a purchase price of $0.025 per common share was oversubscribed. A total of
12,196,000 common shares have been issued for gross proceeds of $304,900.
Harry Barr, President, Chief Executive Officer and a director of the Company has, effective this date, become a
control person of the Company, having purchased 5,000,000 common shares in the private placement at a
purchase price of $0.025 per share, for an aggregate of 5,000,000 common shares representing 31% of the
Company’s issued and outstanding shares.
In compliance with Canadian Securities law, all securities issued in connection with the closing of this private
placement are subject to a hold period that will expire March 10, 2010.
The proceeds from the private placement will be used for the acquisition of a mineral project of merit in North
America, payment of debt and general working capital.
On behalf of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO, Next Gen Metals Inc.
The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Disclaimer: This news release may contain certain "forward-looking statements". All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and available at www.sedar.com or filed with the Canadian National Stock Exchange. Any forward-looking statements are not guarantees of the Company's future performance and are subject to risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by any forward-looking statements.
Except as required by law, the Company undertakes no obligation to update any forward-looking statements.
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