Newlook Industries concludes C$1.57 million private placement of stock

Proceeds finance subsidiary's settlement with trustee, working capital

By Devika Patel

Knoxville, Tenn., April 14 - Newlook Industries Corp. said it settled a C$1.57 million non-brokered private placement of stock.

The company sold 20,966,667 common shares at C$0.075 apiece, a 63.42% discount to the April 13 closing share price of C$0.205.

John Simmonds invested C$400,000; Simmonds' family invested C$162,500; Carrie Weiler invested C$62,500; Brian Usher-Jones invested C$87,500; and Albert Pope invested C$25,000.

A portion of the proceeds will be directed to subsidiary, Wireless Age Communications, Inc., to finance a settlement with the trustee of its former subsidiaries. The remaining proceeds will be used for general working capital purposes.

Based in Toronto, Newlook is a voice-over-internet protocol service provider.

Issuer:	Newlook Industries Corp.
Issue:	Common shares
Amount:	C$1,572,500
Shares:	20,966,667
Price:	C$0.075
Warrants:	No
Agent:	Non-brokered
Investors:	John Simmonds (for C$400,000), Simmonds' family (for C$162,500), Carrie Weiler (for C$62,500), Brian Usher-Jones (for C$87,500) and Albert Pope (for C$25,000)
Settlement date:	April 14
Stock symbol:	CNSX: NLI
Stock price:	C$0.205 at close April 13

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