Lahontan Gold Corp. press release
Nevada Bob's International Inc. - Private placement completed
TSXV - TSX Venture Exchange · Gold · Silver · Canada
TORONTO, Jan. 30 /CNW/ - Nevada Bob's International Inc. (the "Company") (TSX Venture Exchange - "NBI.U") announces that, further to its press release issued on January 16, 2006, it has closed a non-brokered private placement of 4,600,000 units of the Company (the "Units") at a price of US$0.055 per Unit for proceeds to the Company of US$253,000. Each Unit consists of one common share of the Company and one warrant of the Company, each such warrant entitling the holder to purchase one common share of the Company at a price of US$0.09 for a period of two years. Proceeds from this financing will be used for working capital. Taking into account this transaction, the Company now has 20,153,247 common shares issued and outstanding. The purchasers of the Units were Arnold T. Kondrat (Chairman of the Board of the Company and a director of the Company) and Kevin R. Baker (President, Chief Executive Officer and a director of the Company). Both Mr. Kondrat and Mr. Baker purchased 2,300,000 Units. Mr. Kondrat now owns a total of 6,326,518 common shares representing 31.39% of the outstanding common shares of the Company. Mr. Baker now owns a total of 6,150,998 common shares representing 30.52% of the outstanding common shares of the Company. The common shares and warrants comprising the Units, and the common shares issuable upon exercise of such warrants, are subject to a four month "hold period" under applicable securities regulation.
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