Stock Symbol: CNQ - NVGL
VANCOUVER, March 23 /CNW/ - Nass Valley Gateway Ltd. (the "Company")
wishes to announce it will use its best efforts to sell by private placement
up to 1,500,000 of Flow Through Units at $0.37 per unit ("FT-Unit") and
1,000,000 of Non-Flow Through Units at $0.28 per unit ("NFT-Unit"). Each
FT-Unit will be comprised of one common share and one-half of one common share
purchase warrant. Each whole Flow Through warrant is exercisable for one
additional common share at $0.50 per share for a period of one year from the
date of closing. Each NFT-Unit will be comprised of one common share and
one-half share common share purchase warrant. Each whole Non Flow Through
warrant is exercisable for one additional common share at $0.40 per share for
a period of one year from the date of closing.
The Company will apply the proceeds from the private placement towards
exploration expenditure on its Bay Point Project located in British Columbia
and for working capital to fund ongoing operations and acquisitions.
Nass Valley Gateway Ltd. is engaged in the business of industrial and
metallic mineral exploration in the Province of British Columbia. Its
objective is to locate and develop resource properties of merit. The Company
entered into an Option Agreement dated March 10, 2006 with Gitxat'in Mhind
World Link Inc., pursuant to which the Company was granted an option to
purchase up to a 75% interest in the Bay Point Project situated in the Nisga'a
Nation Core Lands in northern coastal British Columbia.
The CNQ has not reviewed, and does not accept responsibility for the
adequacy or accuracy of the contents of this news release.
For further information:
For further information: Dieter Peter, Chairman & CEO, Telephone: (604)