NXA Inc.
TSX VENTURE : NXI

December 14, 2007 19:13 ET

NXA Inc. Announces Flow Through Financing

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA

NXA INC. (the "Company") (TSX VENTURE:NXI) announced today that it is conducting a private placement offering (the "Offering") of securities of the Company. Becher McMahon Capital Markets will act as agents for the Offering on a "best efforts" agency basis. The Company will offer up to $2,500,000 of units comprised of one common share which qualifies as a "flow through share" for purposes of the Income Tax Act (Canada) and one non flow-through share purchase warrant (the "Flow-Through Units") at a price of $0.08 per Flow-Through Unit, and up to $500,000 of units comprised of one non flow-through common share and one non-flow through common share purchase warrant (the "Units") at a price of $0.06 per Unit, for aggregate gross proceeds of up to $3,000,0000.

Each warrant partially comprising the Flow-Through Units and the Units shall be exercisable to acquire one non-flow through common share of the Company for a period of two years from the date of issuance thereof at an exercise price of $0.10 per share. The Offering is expected to close on or before December 31, 2007.

The proceeds of the Offering will be used to explore the Company's mineral properties in Canada and for general working capital. Closing of the Offering is subject to receipt of all required regulatory approvals, including approval of the TSX Venture Exchange.

ABOUT NXA

NXA is a mineral exploration company with mineral properties in British Columbia, Canada. NXA is listed on Tier 2 of the TSX Venture Exchange.

FORWARD-LOOKING STATEMENTS

Some statements herein are forward-looking statements. These statements address future events and conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly different from those anticipated in the forward-looking statements, and therefore readers should not place undue reliance on the forward-looking statements.

Shares Outstanding: 21,912,055

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

Contact Information

  • NXA Inc.
    Robert Metcalfe
    Chief Executive Officer
    (416) 400-4457