Deal will fund exploration and development of lithium brine prospects
By Devika Patel
Knoxville, Tenn., Nov. 28 - New America Energy Corp. arranged a $1 million equity financing on Nov. 22, according to an 8-K filed Monday with the Securities and Exchange Commission.
The agreement will end on Nov. 22, 2012.
Proceeds will be used for exploration and development of the company's lithium brine prospects.
Based in Calgary, Alta., New America is developing technology for ethanol-methanol gasoline.
| Issuer: | New America Energy Corp.
|
| Issue: | Equity financing
|
| Amount: | $1 million
|
| Tenor: | Nov. 22, 2012
|
| Warrants: | No
|
| Settlement date: | Nov. 22
|
| Stock symbol: | OTCBB: NECA
|
| Stock price: | $0.38 at close Nov. 22
|
| Market capitalization: | $18.83 million
|
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