New America Energy announces plans for $3 million sale of common stock

Deal with Fairhills Capital also includes $200,000 2% loan due 2012

By Devika Patel

Knoxville, Tenn., April 12 - New America Energy Corp. said it plans a $3 million non-brokered offering of stock with Fairhills Capital Offshore Ltd. and a $200,000 loan with the same investor at a 2% interest rate. The loan will be due on Sept. 28, 2012.

Proceeds will be used to fund completion of a geophysical survey on the Clayton Ridge lithium project as well as additional exploration programs, to make payments in respect of additional mineral rights and for general corporate purposes.

Based in Las Vegas, New America acquires and explores mineral properties in the United States.

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