New Cantech Ventures Inc.
TSX VENTURE : NCV
FRANKFURT : C7X

New Cantech Ventures Inc.

September 18, 2007 20:08 ET

New Cantech Ventures Inc.: Reduction of Warrant Exercise Price

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2007) - New Cantech Ventures Inc. (TSX VENTURE:NCV)(FRANKFURT:C7X) announces that it is applying to the TSX Venture Exchange for the reduction in pricing of warrants which were issued as part of the units which were sold under a private placement announced on January 22, 2007 at the price of $0.75 per unit. The reduction of warrant exercise price is in accordance with the policies of the exchange and in consideration of recent market conditions. The warrant exercise price was originally $1.00 in the first and second year. It is to be reduced to $0.50 in the first and second year for each of the 6,666,665 warrants, of which 4,149,322 Warrants were issued on March 12, 2007 and 2,517,343 Warrants were issued on March 14, 2007. The term of the Warrants is two years from the date of issuance. This term is to be amended to a period of 30 days if, for ten consecutive trading days the closing price of the Company's shares exceeds $0.625. The 30 day period will commence seven calendar days after the tenth consecutive trading day where the shares of the Company exceed $0.625.

New Cantech confirms that no insiders purchased units under the January 22, 2007 private placement.

The reduction in the warrant exercise price is subject to the agreement of the holders of the Warrants issued under the January 22, 2007 Private Placement and the approval of the TSX Venture Exchange.

About New Cantech

New Cantech is a TSX Venture mineral exploration and development company focusing on the development of its Lucky Ship Molybdenum Property in west central British Columbia and the advancement of its other mineral exploration properties, most of which are located in British Columbia and all of which are located within Canada.

ON BEHALF OF THE BOARD OF DIRECTORS

James Jacuta

NEW CANTECH VENTURES INC.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein.

Contact Information

  • New Cantech Ventures Inc.
    James Jacuta
    President & CEO
    (604) 638-0699
    Website: www.newcantech.com