| | Thu Apr 19, 2007
Canadian Small Cap Resource Funds Management Acquired by NovaDX Ventures Corp
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| | (Vancouver, BC, April 19, 2007) Western Resources Funds Ltd ("Western") announces that NovaDX Ventures Corp ("NovaDX") has agreed to acquire of a 100% interest in the General Partners (the GP's") to the five respective Canadian Small Cap Resource Funds flow-through Limited Partnerships (collectively the "CSCRF"). The GP's consist of the CSCRF 2004, 2005, 2006 (No. 1), 2006 (No. 2) and 2007 (No. 1) Management Ltd(s).
The purchase price of the transaction is CDN $200,000, to be paid to Western through the issuance of 800,000 units of NovaDX at a price of $0.25 per unit. Each unit will consist of one common share of NovaDX and one-half (1/2) of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of NovaDX at a price of $0.40 per share for a period ending 12 months from the date the acquisition closes ("Expiry Date") provided that in the event that the common shares of NovaDX trade at a price of $0.60 per share or more for 10 consecutive trading days (the "Acceleration Event") at any time after issuance of the Units, then the Warrants will expire on the earlier of the Expiry Date and the date which is 30 calendar days after NovaDX provides notice to the holders of the Warrants that the Acceleration Event has occurred.
For further information on the Canadian Small Cap Resource Funds and our flow-through limited partnerships, visit our website, www.cscrf.ca. For information regarding NovaDX, please contact Neil MacDonald or Rick Peterson at 604-684-2883 or send us an email at info@novadx.com.
On the behalf of the General Partners:
Stephen Wilkinson
Chief Executive Officer
888-350-8818
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR UNITED STATES WIRE SERVICES/ |
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| | You can view the Next CSCRF Corporate News item: Wed May 16, 2007, Canadian Small Cap Resource Fund 2007 No. 1 Limited Partnership ("The Partnership")
You can view the Previous CSCRF Corporate News item: Wed Mar 21, 2007, Winding Up Of Canadian Small Cap Resource Fund 2005 No. 1 Limited Partnership ("Cscrf 2005 Lp") & Cash Pay-Out Of Units
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