News Releases From NEX Companies For October 1st

There was one news release from a NEX company that was picked up by Marketwire on Monday, which was released after the close of trading. Surge Resources Inc. [NEX: SRH.H] has completed its acquisition, from Transeuro Energy Corp., of a 100% interest in four "petroleum prospecting licenses," covering an area of 5,841,196 gross acres (4,526,927 net,) which have been granted by the government of Papua New Guinea subject to a 22.5% option held by that government. Transeuro also reserves the right to a 10% working interest in the project by paying 10% of the back and future exploration-and-development costs of the property. In exchange for the licenses, Transeuro got 30,000,000 common shares of Surge at an indicated price of 85 cents/share.

The same price is the implied price for a private placement of 12,000,000 Subscription Receipts, making for total proceeds of $10,200,000 which Surge now has access to. According to the same news release, the "net proceeds of the Financing will be used to fund the advancement of the assets to be acquired pursuant to the Transaction and for general working capital purposes." Also mentioned in the release is the appointment of Hal Hemmerich as CEO and a member of the Board of Directors, and Arlene Weatherdon as Surge's new CFO (but not as a director.) A former officer of the company, Ray Antony, will continue to sit on the board even though he has resigned his officer's position. Surge closed Monday at $1.45/share, unchanged since Friday's close.

No NEX companies were mentioned in Monday's TSX Venture Daily Bulletins.

There were three releases from NEX companies that were sent out exclusively through Canjex Publishing on Monday. The first, from Arcland Resources Inc. [NEX: ADR.H], announces the closing of a private placement of 3.2 million shares, at an implied price of 10.5 cents/share, for a total value of $336,000. According to the release, the proceeeds "will be used for working capital." The rest of the release announces the granting, subject to regulatory approval, of 430,000 incentive stock options to certain officers and directors with strike price of 25 cents/share and life of five years. Arcland closed on Monday at 22 cents/share, unchanged from the previous close established last Thursday.

The second release through Canjex is from DVD Investments Ltd [NEX: DVD.H], and it contains a correction to its earlier release announcing the closing of a reverse takeover of/by Mooncor Energy Inc. as well as a formal announcement that the deal has in fact closed. So will the private placement of $4,057,801, if the latter is approved by the TSX Venture exchange. The correction pertains to the interest rate on the convertible debentures: instead of an 8% rate, the debentures will carry a 10% rate. The release also states that "In connection with the financing and subject to final approval of the TSX Venture Exchange, DVD expects to pay FCCM [First Canadian Capital Management], which raised $3,812,000 of the gross proceeds, a finder's fee of $305,910 and to issue them 328,850 broker warrants. Each broker warrant entitles the holder to one unit. Each unit will consist of one common share in the capital of DVD and one-half of one purchase warrant. Each whole warrant shall entitle the holder to purchase one additional common share at a price of 83 cents per share for a period of 18 months from the closing of the financing." The CFO of FCCM, Nick Tsimidis, will continue to be a director of DVD, whose shares are still halted from trading.

The third release is from Toba Industries [NEX: TBG.H], which announces the filing of a change-of-business and reverse-takeover application to the TSX Venture in relation to the recent reverse takeover of/by Peking Marvel Cleansing Supplies Co. Ltd. Toba closed Monday at 10 cents/share, down 0.5 cents/share since last Friday's close.

In addition to these releases, two filing announcements have been sent out:

• an M D & A for the year ending May 31st from Radiant Resources; and,
• the quarterly interim (unaudited) financial statements and accompanying M D & A from Cadre Resources.

There's also the highlighted NEX stocks for Monday, which can be found by going here.