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Gold/Mining/Energy : NOVA GROWTH CORP. - YVA-CDNX -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (31)	1/18/2002 5:35:31 PM
From: baystock	Read Replies (4) \| Respond to of 37

It is probably the previously announced financing that they have failed to complete after 2 months. Note that the price per share is not agreed, so the lower the stock price the more shares get issued. Clearly the stock price is being taken down to the level that it is really worth to smart money: >>TORONTO, Nov. 21 /CNW/ - Nova Growth Corp. (YVA-CDNX) (the "Company") is pleased to announce that it plans to undertake a $2,000,000 non-brokered financing of equity units, each unit comprised of $150,000 of common shares and warrants. The pricing of the shares and warrants will be subject to regulatory approval.<< What kind of company is this that is "pleased" to dilute existing shareholders ? At 20 cents per share that is 10 million new shares. At 10 cents that is 20 million new shares. The only good thing that will come with flooding the market with shares is that the float will increase and narrow those ridiculous bid/ask spreads. This thing is starting to smell even more like a scam.