Newcastle Resources Ltd.
OTC Bulletin Board : NCSLF

February 15, 2011 18:01 ET

Newcastle Resources Arranges USD $2.5 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2011) - Newcastle Resources Ltd. (the "Company") (OTCBB:NCSLF) is pleased to announce that it has arranged a private placement of up to 2,500,000 common shares at USD $1.00 per share for proceeds of up to USD $2,500,000. The proceeds will be allocated for the completion of the remaining USD $2,000,000 financing commitment to its subsidiary, TrichoScience Innovations Inc., and for working capital. A finders' fee of 8%, payable in common shares of the Company, will be paid on a portion of the private placement. Closing of the private placement is scheduled for late February, 2011.

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 and Director

Contact Information

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