New America Energy Slid After Signing Equity Financing Agreement | Stocks Gone Wild

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New America Energy Slid After Signing Equity Financing Agreement

Posted by: Ankit Singhania on November 29th | Posted in News Releases

New America Energy Corp (OTC: NECA) plummeted 9.75% to $0.361 in the morning hours after the company announce that it has entered into an equity financing agreement with a China-based investor for up to $1,000,000.

The funds raised will be allocated primarily for the exploration and development of the Company’s lithium brine prospects located in Nevada. The Company announced on November 16th that it anticipates the start of a gravity survey on its Clayton Ridge prospect imminently.

Under the terms of the agreement, New America Energy Corp. has the right to call upon funds for up to $1,000,000 by issuing shares of its common stock.

New America Energy Corp., formerly Atheron, Inc., is a development-stage company. The Company is developing technology for ethanol-methanol gasoline, which is prepared from light, oil, naphtha, straight-run gasoline and main additives.

This entry was posted in News Releases and tagged NECA, New America Energy Corp, New America Energy Corp (OTC: NECA), OTC. Bookmark the permalink.

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