{"id":28428,"date":"2012-04-12T09:33:45","date_gmt":"2012-04-12T13:33:45","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=28428"},"modified":"2012-04-12T09:42:58","modified_gmt":"2012-04-12T13:42:58","slug":"new-america-enters-into-3-2-million-dollar-financing-agreements","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2012\/new-america-enters-into-3-2-million-dollar-financing-agreements.html","title":{"rendered":"Energy Corp. Enters Into $3.2 Million Dollar Deal With New York Hedge Fund"},"content":{"rendered":"

\"\"<\/a>New York (HedgeCo.net) – New America Energy Corp. has signed an agreements for a non-brokered financing arrangement of up to\u00a0US$3,000,000\u00a0with NY hedge fund Fairhills Capital Offshore Ltd. The financing allows the Company to obtain capital to execute its growth strategy.\u00a0 The financing agreement allows the Company to issue and sell up to\u00a0$3,000,000\u00a0worth of its common stock to Fairhills Capital. In addition, the company entered into a loan agreement with Fairhills for\u00a0US$200,000\u00a0which is due by\u00a0September 28, 2012\u00a0and carries a 2% annual rate of interest.<\/p>\n

It is expected that the proceeds from the financing will be used to fund completion of a geophysical survey on the Clayton Ridge lithium project, additional exploration programs, make payments in respect of additional mineral rights and for general corporate purposes.\u00a0 Rare earth minerals such as lithium remain in high demand and there is a highly charged political climate surrounding these resources.\u00a0 There is a large political wave encouraging non-Chinese based rare earth resources such as the leases New America Energy currently owns in addition to our future acquisition plans.<\/p>\n

Rick Walchuk, New America Energy Corp. CEO, said, “The Company had various choices for obtaining capital and we felt this was our best option for management and our shareholders. This financing will now allow us to push forward with our exploration plans and we expect to provide an update by the end of the month.”<\/p>\n

In connection with the financing agreement, we also entered into a registration rights agreement datedMarch 28, 2012, whereby we agreed to file a Registration Statement on Form S-1 with the Securities and Exchange Commission within twenty-one (21) days of the date of the registration rights agreement and to have the Registration Statement declared effective by the Securities and Exchange Commission within one hundred and twenty (120) calendar days from\u00a0March 28, 2012.<\/p>\n

New America Energy Corp. is a\u00a0Nevada-based mineral exploration company engaged in the acquisition and exploration of mineral properties in the continental\u00a0United States. Currently the company controls approximately 5600 acres in\u00a0Nevada.<\/p>\n

Alex Akesson
\nEditor for HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a> is a premier hedge fund database<\/a> and community for qualified and accredited investors only. Membership in HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.net) – New America Energy Corp. has signed an agreements for a non-brokered financing arrangement of up to\u00a0US$3,000,000\u00a0with NY hedge fund Fairhills Capital Offshore Ltd. The financing allows the Company to obtain capital to execute its growth strategy.\u00a0 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-28428","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/28428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=28428"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/28428\/revisions"}],"predecessor-version":[{"id":28430,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/28428\/revisions\/28430"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=28428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=28428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=28428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}