News Releases From NEX Companies For October 26th

There was one release from a NEX company that was picked up by Marketwire on Friday: it came from Moneta Resources Inc. Moneta announced the signing of a Letter of Intent to acquire an option for an 80% interest in the Geita Gold Property in Tanzania, currently owned by Geo Can Resources Ltd. In order to exercise that option, called the First Option in the news release, "Moneta must make cash payments of US$4,000,000 and issue 6,000,000 shares over a period of four years, and incur an aggregate of US$5,000,000 in exploration expenditures on the Geita Gold Property over a period of five years, including a cash payment of $500,000 (of which US$100,000 has been paid), the issuance of 1,000,000 shares and US$500,000 in expenditures during the first year (of which $50,000 has been advanced to date)." The other two options are for 10% each of the remaining 20% interest in the property. Geo-Can will retain a 2% net smelter royalty, which Moneta can buy for 2.5 million US dollars per percent, payable over four years. In addition to other details, the release also conains a capsule description of the mineralization of the property and explains that the $50,000 sent over so far will be used for exploration expenses. Moneta was halted before this release was disseminated, and resumed trading after it was sent out: the halt lasted from the start of trading to 10:30 AM PT, or 1:30 PM ET. MOT.H didn't trade at all on Friday; it last traded on Wednesday, closing at 16 cents/share on that day.

The notices of Moneta's halt and resumption were two of the four bulletins from NEX companies that were at the bottom of Friday's TSX Venture Daily Bulletins. The others were from an already-established NEX company and a new listing. The former bulletin announces the aceptance for filing of documentation for an already-announced $90,000 private placement of shares in Tri-River Ventures [NEX: TVR.H]. This placement consists of 400,000 units, at a price of 22.5 cents/unit. Each unit contains one common share and a purchase warrant, with exercise price of 45 cents/share and life of 1 year. There were nine placees, two of which were insiders. One of them subscribed for 50,000 shares and the other for 40,000 shares. Tri-River last traded on Wednesday, and closed at 30 cents/share on that day.

The other bulletin is from new NEX company Waveform.com Inc. It announces the move and the change of its symbol to WAF.H, as well as a resumption in trading of its stock as of Monday, October 29th. Canjex Publishing has a webbed copy of the Tri-River bulletin here, and has split the Waveform bulletin into two: the announcement of the move to the NEX and the notice of trading resumption. Wavefire.com shares last traded on October 22nd, and closed at 20 cents/share on that day.

One news release was sent out exclusively through Canjex on Friday, although it contains two items. It's from Trilogy Metals Inc. [NEX: TRI.H], and it announces Trilogy entering into an agreement to purchase all of the shares of NWest Energy Inc. in a one-for-one swap of Trilogy shares for NWest shares. This will necessitate the issuance of 49,531,250 shares of TRI.H, which will be subject to escrow according to regulations. NWest holds four oil-and-gas exploration licenses, for 659,880 hectares' or 1,630,599 acres' worth of offshore area for all four. They're located off eastern Newfoundland. It is expected that this transaction will qualify Trilogy to move to Tier 2 of the Venture Exchange, and Trilogy itself expects to change its name. The new additions from NWest to top management and the board are also identified, with capsule biographies for each: Francois Gauthier, the new president and CEO (he's also a new director); Wade Dawe, a new director; Patrick Laracy, new director and corporate secretary; and, Carl Sheppard, new director and CFO. The second item announces that NWest is trying to raise up to $20 million for a seismic exploration of 11 promising spots in the properties, on the basis of an encouraging report on them by Sproule Associates. (In addition to that technical review, Sproule has also done the valuation of them.) That part of the release notes that "[n]o wells have been drilled on the properties covered by the exploration licences and there are no known reserves." Trilogy last traded on Wednesday, and closed at 42 cents/share on that day.

In addition to the above items, there were also SEDAR-filed financial statements announced on Friday:

• Benem Ventures Inc. has filed its annual report for FY '07 with accompanying M D & A.
• IDG Holdings Inc. has also filed its annual report for FY '07 accompanying M D & A, as well as interim unaudited financial statements for the first quarter of FY '08.

To read about the highlighted NEX stocks for Friday, you can go here.