NFX Gold Inc.
TSX VENTURE : NFX

NFX Gold Inc.

August 09, 2007 16:26 ET

NFX Announces Update on Financing

TORONTO, ONTARIO--(Marketwire - Aug. 9, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

NFX GOLD INC. (TSX VENTURE:NFX) ("NFX" or the "Company") announces that, further to the Company's press release dated June 21, 2007, the deadline to complete a non-brokered private placement (the "Private Placement") of up to 1,800,000 Flow-Through units of NFX at a price of $0.25 per unit for total proceeds of up to $450,000 has been extended to September 7, 2007. Pursuant to the Private Placement each Flow-Through unit will consist of one common share (the "Common Shares") to be issued on a "flow-through" basis under the Income Tax Act (Canada) and one non-transferable share purchase warrant of the Company (the "Unit Warrants"). Each Unit Warrant will have a term of 18 months and will entitle the holder to purchase one non Flow-Through Common Share at a price of $0.40 per share.

The net proceeds of the Private Placements will be used for NFX exploration, other than at the Larder Lake Properties, where Maximus Ventures Ltd. ("Maximus") is currently conducting a 10,000 metre drilling program pursuant to the NFX/Maximus $6 million option and joint venture agreement.

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

Contact Information

  • NFX GOLD INC.
    Thomas G. Larsen
    President and Chief Executive Officer
    (416) 360-8006
    (416)361-1333 (FAX)
    or
    NFX GOLD INC.
    Jorge Estepa
    Vice President
    (416) 360-8006
    (416)361-1333 (FAX)
    Website: www.nfxgold.com