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Gold/Mining/Energy : Consolidated Magna Ventures (CMV.V)
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To: jerry janko who wrote ()2/25/1998 7:40:00 PM
From: jerry janko   of 380
 
From: newsout@canada-stockwatch.com
Date: Wed, 25 Feb 1998 14:28:05 -0800
Subject: Stockwatch: Novagold Resources Inc - News Release
To: ajanko@erinet.com

$800,000 private placement

Novagold Resources Inc NRI
Shares issued 9,630,032 Feb 23 close $0.95
Wed 25 Feb 98 News Release
Mr Angus MacIsaac reports
NovaGold has concluded private placement agreements with five investors for
total proceeds of $800,000. The placees will receive 800,000 shares of
NovaGold at $1.00 and 800,000 warrants. Each warrant will entitle the
holder to purchase one share at $1.25 before February 23 2000.
The proceeds will be used to finance acquisitions in Alaska and Mexico and
continue exploration in New Brunswick.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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