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New World Resource Corp.: New World Increases Brokered Private Placement to $3.1 Million

^{Published on 2009-09-18 12:58:30 - Market Wire}
 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

New World Resource Corp. (the "Company") (TSX VENTURE:NW) is pleased to announce that it has increased the size of its brokered private placement announced on September 1, 2009 to 11,481,482 units (the "Units") at a price of $0.27 per Unit, for gross proceeds of $3,100,000.14. Byron Capital Markets, a division of Byron Securities Ltd. and PowerOne Capital Markets Limited (together, the "Agents") are acting as agents for the private placement on a "best-efforts" basis.

The private placement is scheduled to close on or around September 22, 2009.

The proceeds of the offering will be used to advance the Company's current lithium initiative, finance expected expenditures on its properties and for general working capital purposes.

The financing is subject to standard closing conditions, including the Agents' satisfactory due diligence and regulatory approval.

The securities will not be and have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About New World

New World Resource Corp. is a Canadian based mining exploration company focused on building a strong, diversified project portfolio within the Americas.

NEW WORLD RESOURCE CORP.

John Lando, President

This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, statements regarding the proposed use of proceeds for the brokered private placement. This forward-looking information is given as of the date of this news release. Users of forward-looking information are cautioned that actual results may vary from the forward-looking information contained herein. While the Company has based this forward-looking information on its expectations about future events as at the date that such information was prepared, the information is not a guarantee of the Company's future performance and is subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking information. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of lithium, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Known risk factors include, among others, risks relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Bolivia; potential defects in title to the properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company is under no obligation to update or alter any forward-looking information except as required under applicable securities laws.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.