Norwood Resources Ltd. - Financing Approved



    Trading Symbol: NRS

    VANCOUVER, Feb. 20 /CNW/ - Norwood Resources Ltd. (the "Company")
announces that it has received final acceptance from the TSX Venture Exchange
and has closed the non-brokered private placement, originally announced
February 15, 2008, consisting of 21,353,348 units at $0.50 per unit. Each unit
consists of one common share and one share purchase warrant whereby each share
purchase warrant will entitle the holder to acquire an additional share at
$0.60 per share until February 20, 2009. The Company shall be entitled to
accelerate the expiry date of the warrants by providing 30 days written notice
to the holders of the warrants if the share price trades at $1.25 or more for
20 consecutive days after the expiry of the mandatory four (4) months hold
period.
    A Finders fee in the amount of $314,735.00 will be paid in respect of
certain of the subscriptions in accordance with applicable stock exchange
policies. Proceeds of the financing will be used to fund ongoing exploration
and development work and for working capital.

    ON BEHALF OF THE BOARD OF DIRECTORS OF
    NORWOOD RE

SOURCES LTD. "Raymond Cahill" Raymond Cahill President & CEO WE SEEK SAFE HARBOUR This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE

For further information:

For further information: About Norwood Resources Ltd. (NRS) contact:
Raymond Cahill, President & CEO, E-Mail: info@norwoodresources.com, Telephone:
(604) 642-6566

Organization Profile

NORWOOD RESOURCES LTD.

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