Nass Valley Gateway Ltd. - Non-Brokered Private Placement

    Trading Symbols
    Germany: WKN A0MNSR /
    ISIN CA6315201039

VANCOUVER, Dec. 23 /CNW/ - Nass Valley Gateway Ltd. (the "Company or "NVG") wishes to announce that further to its news release on September 8, 2009 and December 18, 2009, it has closed the private placement with a subscription of 8,500,000 units for total proceeds amounting to $255,000. The Laxgalts'ap Forest Company ("LFC"), indirectly owned by the Nisga'a Laxgalts'ap Village Government, subscribed for 1,700,000 units, Dieter Peter subscribed for 3,400,000 units and Hugh Maddin through his private company, Cambrian Capital Corp., subscribed for 3,031,000 units. Melvin Stevens, is the president of LFC and is also NVG's President. Dieter Peter is the Chairman & CEO and Hugh Maddin is a Director of NVG and as such, their participation would be considered a "related party transaction" as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any units issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization.

All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units are subject to a hold period and may not be traded in British Columbia until April 24, 2010 except as permitted by the applicable Securities Acts and the Rules made thereunder and the CNSX. There is no finder's fee payable in connection with this private placement.

The Company will apply the proceeds from the private placement towards working capital, new acquisitions, and to fund its obligations for existing operations.

The CNSX has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

SOURCE Nass Valley Gateway Ltd.

For further information: For further information: Mel Stevens, President, Telephone: (250) 621-3286; Or Dieter Peter, Chairman & CEO, Telephone: (604) 685-4170

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