NX Capital Corp.
TSX VENTURE : OES

June 07, 2007 13:11 ET

NX Capital Announces First Quarter Financial Results and Annual and Special Meeting of the Shareholders

CALGARY, ALBERTA--(Marketwire - June 7, 2007) - NX Capital Corp. (the "Company" or "NX Capital") (TSX VENTURE:OES) is pleased to report it's financial results for the three month period ended March 31, 2007. For complete disclosure of NX Capital's March 31, 2007 first quarter financial results and Management Discussion and Analysis, please go to www.SEDAR.com and view documents listed under NX Capital Corp.

NX Capital Corp. is also pleased to announce that at its annual and special meeting of the shareholders of NX Capital ("NX Capital Shareholders") held on May 30, 2007, the NX Capital Shareholders approved, among other things, the previously announced reverse take-over transaction (the "Transaction") to acquire all of the issued and outstanding shares of Newton Energy Inc. The NX Capital Shareholders also approved the change of business of NX Capital to oil and gas exploration, development and production; the share consolidation on a twenty to one basis or such other basis as is acceptable to the regulatory authorities; a change of name to Newton Energy Corporation and a Private Placement financing of a minimum of 4,000,000 and a maximum of 10,000,000 post-consolidated shares at a price of $0.50 per share or other discount as determined and approved by the Board of Directors of the Company, in their discretion, and within the policies of the TSX Venture Exchange. Closing of the Transaction and related matters is subject to the terms and conditions of the Share Purchase Agreement dated March 1, 2007 between NX Capital and Newton and the approval of the TSX Venture Exchange. The Information Circular detailing the matters considered at the meeting can be viewed at www.SEDAR.com.

About NX Capital

NX Capital is a publicly traded corporation listed on the TSX Venture Exchange. NX Capital successfully emerged from protection under the CCAA on June 17, 2005. During its restructuring process, NX Capital completed the divesture of all of its operating divisions. The principal business of NX Capital is now the identification and evaluation of assets or businesses with a view to completing a business transaction.

ADVISORY:

Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of NX Capital should be considered highly speculative and exchange trading in the securities will remain halted until the Transaction has been completed and all approvals obtained.

Certain information regarding NX Capital Corp. including managements assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, environment risks, competition from other producers and ability to assess sufficient capital from those anticipated in the forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • NX Capital Corp.
    Merv Chia
    Director and CEO
    (403) 514-9900
    Email: mchia@nexindustries.com
    or
    NX Capital Corp.
    780, 435 - 4th Avenue SW
    Calgary, AB, T2P 3A8