Newcastle Resources Ltd.
OTCQB : NCSLF

March 14, 2011 09:01 ET

Newcastle Resources Announces Closing of USD $2.5 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2011) - Newcastle Resources Ltd. (the "Company") (OTCQB:NCSLF) is pleased to announce that it has completed its previously announced private placement of 2,550,000 common shares at USD $1.00 per share for proceeds of USD $2,550,000. The proceeds will be allocated for general working capital and a clinical trial presently underway in Europe. A finders' fee of 8%, payable in common shares of the Company, will be paid on a portion of the private placement.

The securities offered in the private placement will not be registered under the Securities Act of 1933 as amended (the "Act"), and unless registered under the Act, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Act and in each case only in accordance with applicable securities laws.

On behalf of the Board of Directors,

Brent Petterson, Chief Financial Officer

Contact Information

  • Newcastle Resources Ltd.
    Brent Petterson
    CFO
    604-684-4312
    604-689-0646 (FAX)