GOLDNEV RESOURCES INC. ANNOUNCES COMPLETION OF PRIVATE PLACEMENT FINANCING

CALGARY, Aug. 30 /CNW/ -- CALGARY, Aug. 30 /CNW/ - Goldnev Resources Inc. ("Goldnev" or the "Corporation") (TSX Venture Exchange - "GNZ"), announced today that it has completed its previously announced non-brokered private placement (the "Offering") of 26,771,000 Units at a price of $0.05 per Unit for gross proceeds of $1,338,550. Each Unit consisted of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the Corporation at a purchase price of $0.08 for twelve months from relevant closing of the sale of the Units.
Pursuant to the policies of the TSX Venture Exchange and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the private placement of Units is classified as a "related party" transaction as Marc Dame, Charlie Chapman, Merrill Moses and Steven Craig officers and directors of the Corporation and Qi Asset Management Ltd.("QAM") is an insider that owns or controls over 10% of the outstanding shares of the Corporation (the "Related Parties"), participated in the private placement directly or indirectly. Marc Dame is an officer, director and 100% shareholder of a company purchased $75,000 of the Offering. Charlie Chapman is an officer, director and 100% shareholder of a company that purchased $80,000 of the Offering. Merrill Moses is a director that purchased $81,000 of the Offering. Steven Craig is a director that purchased $81,000 of the Offering. QAM purchased $100,000 of the Offering.
The private placement financing has been approved by the directors of the Corporation. The directors determined that the exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, are available since the aggregate consideration to be paid by the Related Parties is reasonable and does not exceed 25% of the market capitalization of the Corporation as at August 30, 2010
The private placement transactions are subject to the approval of the TSX Venture Exchange and all securities issued will be subject to a standard four-month hold period.
Neither the TSX Venture Exchange, nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


    
    About Goldnev
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Goldnev Resources Inc. is a public energy company focused on conventional and unconventional oil and gas production with assets in northeastern British Columbia, southwestern Alberta and an oil shale development project in east central Saskatchewan. Goldnev shares trade on the TSX Venture Exchange under the symbol "GNZ."
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on Goldnev, please visit our website at www.goldnevresources.com, or email at [e-mail] or contact: Mr. Marc Dame, President and Chief Executive Officer, Goldnev Resources Inc., Telephone: [phone], Facsimile: [phone], E-mail: [e-mail], Suite 485, 708 - 11th Avenue S.W., Calgary, Alberta, T2R 0E4

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