Next Gen Metals Inc. (CNSX: N)
wishes to announce a non-brokered
private placement of up to 2,000,000 units at a purchase price of $0.30 per unit for gross proceeds of up to
$600,000. Each unit will consist of one common share in the capital of the Company and
one-half of one share purchase warrant; each whole share purchase warrant will entitle the holder thereof to purchase one additional
common share of the Company for a period of 12 months from the closing date at a price of $0.45 per share.
A portion or all of the units may be
flow-through units.
The proceeds from the private placement received from the sale of the units, will be used for the exploration and
development of the Company’s Alaskan Silver Chalice Project (see news release December 7, 2009 ) and for the
acquisition and development of projects in Canada.
A finder’s fee may be paid. The foregoing is subject to regulatory approval.
About Next Gen Metals Inc.
Next Gen Metals Inc. is focused on the development of the Silver Chalice Property located (see release
see news release December 7, 2009) and is currently expanding its focus to acquiring precious metals
projects in Canada The newest company to join the International Metals Group, “Next Gen Metals Inc.”, is currently listed on the
CNSX exchange, trading symbol “N”. The new Board of Directors are comprised in part with Directors from the
International Metals Group (www.internationalmetalsgroup.com) who along with the new management group,
have a combined 150 years or more of experience in all aspects managing public companies related to the
resource industry.
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.
|
