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NPN INVESTMENT GROUP INC ANNOUNCES FINANCING CLOSED
October 31th, 2007, VANCOUVER, B.C. – NPN INVESTMENT GROUP INC. (“NPN” or the “Company”) (NPN-TSX: V) announces the completion of its non brokered private placement initially announced on August 16, 2007. The Company has raised $932,650.25 through the issuance of 2,664,715 Units at a price of $0.35 per Unit. Each Unit consists of one common share and one half of one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share for a period of 24 months at a price of $0.45 per share. The warrants include an early exercise feature whereby if the trading price of the Company's shares exceeds $0.75 for 20 consecutive trading days, then the warrants will expire on the date that is 30 days following the issuance of a news release disclosing the reduced warrant term.
All securities issued in connection with the private placement are subject to a four month hold period in Canada which expires on February 26, 2008. $300,000 of the funds from the private placement will be used to fulfill the first year's exploration expenditures under an option agreement with Andover Ventures Inc. The remainder will be used for general working capital.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"