Pro Minerals Spin off aus Novawest - 500 Beiträge pro Seite

[mickefett]

Novawest Resources Inc. (TSXV – “NVE”; Frankfurt – “NWN”), and its Board of Directors are pleased to announce that the Pro Minerals Inc. IPO (“INITIAL PUBLIC OFFERING”) is now closed. Pro Minerals has successfully undertaken a listing on the TSX-V Exchange and will begin trading on March 5, 2008. The IPO closed for gross proceeds of $750,000 consisting of 3,000,000 units. Each unit is comprised of one common share of the Company and one half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional share of the Company for a period of 18 months from the date of closing, at a price of $0.35 per warrant if exercised in the first 12 months and at $0.50 per warrant if exercised thereafter. Novawest Resources Inc. has invested by way of subscription a total of $598,000 for 2,392,000 units of Pro Minerals Inc. Novawest’s previously announced Plan of Arrangement has now been finalized. Novawest will distribute one common share of Pro Minerals for every five Novawest shares held by Novawest shareholders and one common share purchase warrant of Pro Minerals for every five Novawest warrants held by Novawest warrant holders.



Novawest invites the public to visit its NEW website at http://www.Novawest.com or e-mail us at [e-mail] to be added to the Company’s e-mail list for press releases and updates.



ON BEHALF OF THE BOARD OF DIRECTORS OF NOVAWEST RESOURCES INC.



“Patrick D. O’Brien”

Patrick D. O’Brien – Chairman



Novawest invites the public to visit its “NEW” website at http://www.novawest.com or e-mail the company at [e-mail] to be added to the company's e-mail list for press releases and updates.

[mickefett]

March 10, 2008

Mr. Christopher Chu reports

PRO MINERALS CLOSES IPO

Pro Minerals Inc. has closed its initial public offering on Friday, Feb. 22, 2008.

The IPO consisted of three million units of Pro Minerals at 25 cents per unit for proceeds of $750,000. Each unit consists of one Pro Mineral share and one-half of one Pro Mineral warrant. Each whole Pro warrant entitles the holder thereof to acquire one additional Pro share for a period of 18 months from the date of closing of the IPO at a price of 35 cents per Pro share if exercised in the first 12 months and at a price of 50 cents per Pro share if exercised thereafter.

Global Securities Corp. acted as agent for the IPO. The company has paid the agent a cash commission of $60,000 equal to 8 per cent of the proceeds and granted an option to purchase 600,000 Pro shares, equal to 20 per cent of the number of the units sold through the IPO.

The Pro shares are expected to commence trading on the TSX Venture Exchange under the symbol "PRM" on March 4, 2008.
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