Nova Growth Corp. - $431,000 Common Share/Warrant Financing Completed
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Trading: Canadian Trading and Quotation System Inc. ("CNQ") Symbol: "NOVA"
TORONTO, April 28 /CNW/ - Nova Growth Corp. (the "Company") trading on CNQ (www.cnq.ca) under the symbol "NOVA" announces the following. The Company announces that it has completed a financing through the issuance of Units, each Unit consisting of one common share and one common share purchase warrant (the "Unit"). Each warrant is exercisable at $0.50 per common share until February 28, 2010. This financing was reported in a Company press release on March 21, 2005. Under the financing, the Company sold 862,000 Units at $0.50 per Unit, for gross proceeds of $431,000. The Company has set Wednesday May 25th, 2005 as the date for its annual and general meeting of shareholders. Shareholders of record as of April 27th, 2005 will be entitled to vote at the meeting. Details in respect of this meeting will be mailed to all shareholders of record. Nova Growth Corp. has 5,226,017 common shares outstanding (6,900,017 on a fully diluted basis).
Nova Growth Corp. is an Ontario public company. Since March 13, 1998 the Company has been pursuing its claim to an ownership interest in the Niagara Falls Casino Gateway Project located in Niagara Falls, Ontario. This project was awarded to a consortium on February 18, 1998. The claim, Court File No. 98-CV-143556 is against Falls Entertainment and against former management of the Company, Andrzej Kepinski, Richard Boxer, and their holding companies. In addition, the Company is pursuing two other actions in the Courts of Ontario against Shiplake Casino Corp. and Park Gaming L.P., Court File No. 00-CV-197099 and Coopers & Lybrand, et al, Court File No. 98-CV-149051. To review Nova Growth's public documents please visit www.sedar.com and search Nova Growth Corp. For trading and other corporate information visit www.cnq.ca under the trading symbol "NOVA".