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New World Resource closes brokered private placement for US$3.1 million

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New World Resource

On September 25, 2009, New World Resource Corp. (TSX VENTURE:NW) closed its previously announced brokered private placement of units for gross proceeds of approximately $3,100,000. Byron Securities Limited and PowerOne Capital Markets Limited acted as agents for the private placement. The proceeds of the offering will be used to advance New World's current lithium initiative, finance expected expenditures on its properties and for general working capital purposes. New World is a Canadian-based mining exploration company focused on building a strong, diversified project portfolio within the Americas. New World was advised in this transaction by Fasken Martineau with a team led by Susan McLeod and including Nancy Eastman and Steve Saville.


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