NGEx CDN $7 Million Private Placement
December 1, 2009
COLUMBIA--(Marketwire - Dec. 1, 2009) - NGEx Resources Inc. (TSX:NGQ) reports
that it has agreed to sell, on a non-brokered, private placement basis, an
aggregate of up to 10 million common shares at a price of Cdn $0.70 per share
for gross proceeds of up to Cdn $7 million. Shares issued pursuant to the
private placement will be subject to a four month hold period. A 5% finder's
may be payable on a portion or all of the private placement. Net proceeds of
the private placement will be used towards ongoing exploration programs as well
as for general working capital purposes. The private placement is subject to
The Company also
announces the appointment of Mr. I. Rodrigo A. Romo as Corporate Secretary of
the Company. Most recently, Mr. Romo was the in-house Securities and Corporate
Paralegal for Quorum Management & Administrative Services Inc. ("Quorum"),
a private company, which provides management, administrative, legal, geological
and other services to a number publicly traded mineral exploration companies.
Mr. Romo also acted as the Corporate Secretary for two of the Quorum group of
companies, namely, Emgold Mining Corporation and ValGold Resources Ltd. Prior
to joining Quorum, Mr. Romo was a Securities and Corporate Paralegal with the
law firm of Lang Michener LLP.
On behalf of the Board,
President and CEO
NGEx Resources Inc.
(604) 689-4250 (FAX)email@example.com