Perry Dellelce

January 10, 2007 17:07 ET

Press Release

TORONTO, ONTARIO--(CCNMatthews - Jan. 10, 2007) - Perry Dellelce ("Dellelce") announces that, pursuant to a first closing of a private placement of securities (the "Private Placement") of NXA Inc. (the "Issuer"), he has acquired 1,700,000 Flow Through Units. Each Flow Through Unit consists of one common share (a "Common Share") which qualifies as a "flow through share" for purposes of the Income Tax Act (Canada) (a "Flow Through Share") and one Common Share purchase warrant (a "Warrant") at a price of $0.06 per Flow Through Unit. Each Warrant partially comprising the Flow Through Units is exercisable to acquire one Common Share of the Company for a period of twelve (12) months from the date of issuance of the Warrant at an exercise price of $0.10 per Common Share. Assuming conversion of all Warrants and other convertible securities held by Dellelce, and further assuming no other convertible securities are converted and no securities are issued from treasury of the Issuer, the securities currently held by Dellelce represent approximately 19.1% of the issued and outstanding common shares of NXA Inc. In the absence of such conversion, the Common Shares currently held by Dellelce approximately represent 10.29% of the issued and outstanding Common Shares of the Issuer.

Dellelce has acquired the Flow Through Units of the Corporation for investment purposes and may from time to time acquire additional securities of the Corporation, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position.

For further information or to receive a copy of the early warning report issued in connection with this press release, please contact:

Perry Dellelce
Suite 800
Wildeboer Dellelce Place
365 Bay Street
Toronto, Ontario
M5H 2V1

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

Contact Information

  • Wildeboer Dellelce
    Perry Dellelce
    (416) 361-3121
    (416) 361-1790 (FAX)