Private Placement Amended
NEW SHOSHONI VENTURES LTD.
609-475 HOWE STREET VANCOUVER, B.C.
V6C 2B3
TEL: (604) 682-1643 FAX: (604) 682-1666 [email protected]
TSX VENTURE EXCHANGE SYMBOL: NSV Frankfurt: NWV
November 15, 2010 News Release
Private Placement Amended
Further to a News Release dated September 31, 2010, wherein the Company announced a private placement to raise gross proceeds of $800,000, the Company wishes to announce that it plans to proceed with an amended private placement to raise a total of $905,000. The amended private placement will consist of 6,250,000 Flow Through Units priced at $0.08 per unit and 6,750,000 Non Flow Through Units priced at $0.06.
Each Flow Through Unit will consist of one flow through share plus one warrant exercisable into one non flow through share at $0.15 per share for a period of 12 months and at $0.30 for an additional 12 months. The Company plans to spend the flow-through funds raised for exploration on its DS and Arrowsmith properties located on Vancouver Island in British Columbia.
Each Non Flow Through Unit will consist of one non flow through share plus one warrant exercisable into one non flow through share at $0.15 per share for a period of 12 months and at $0.30 for an additional 12 months.
The share purchase warrants attached to the Units are subject to an acceleration clause, whereby the Company may, at its discretion call for the exercise of the warrants within 10 business days, if the closing price of the Company’s common shares on the TSX Venture Exchange is $0.40 or higher for 10 consecutive trading days, provided that the mandatory hold period has passed.
Shares issued pursuant to this private placement and shares that may be issued as a result of the exercise of any warrants attached to this private placement will be subject to a mandatory hold period expiring four months from the date of closing. Finders’ fees in accordance with TSX Venture Exchange policy will be payable in respect of a portion of this private placement. This private placement is subject to approval by the TSX Venture Exchange.
Additional information on New Shoshoni is available on Shoshoni’s website at http://www.newshoshoni.com .
NEW SHOSHONI VENTURES LTD.
Ralf Hillebrand President
For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.