Warrant details for NEWBS
Further to the News Release dated April 20, 2010, the Company has increased the Private Placement to 12,500,000 shares at a price of
.06 per unit for gross proceeds up to $750,000. Each unit shall consist of one common share of the Company and one-half of one share purchase warrant, each whole warrant entitling the holder thereof to purchase one additional common share at a price of
.10 for a period of 18 months from the closing date.
The expiry date of the warrants will be accelerated to shorten the exercise period to 30 days should the shares of the Company trade at
.20 or higher for a period of 20 consecutive trading days. Such acceleration will only occur after the hold period expires.