NewWest Gold Corporation

Acquisition of Shares of NewWest Gold Corporation by J. E. Safra

    Toronto, Canada (ots/PRNewswire) - Jacob E. Safra ("Safra") announced today that, through an entity  indirectly 100% controlled by him, he acquired 150,000 common shares of  NewWest Gold Corporation (the "Corporation") on December 6, 2006 and 22,400 common shares of the Corporation on December 7, 2006, which acquisitions  were made through the Toronto Stock Exchange. Prior to completion of an  initial public offering of the Corporation on August 29, 2006, NWG  Investments Inc. ("NWG"), a company wholly owned by Safra, owned 100% of  the 50,000,000 outstanding common shares of the Corporation and immediately  following completion of the offering (not including the exercise of an  over-allotment granted to underwriters on the offering), NWG's ownership of 50,000,000 represented approximately 85% of the total outstanding shares of  the Corporation.

    The purchase of these additional shares by Safra, together with the  shares previously held by NWG, provide Safra with beneficial ownership,  control and direction of a total of 50,172,400 common shares of the  Corporation, or approximately 86% of the outstanding shares.

    The Common Shares were acquired for investment purposes. Safra may from time to time through wholly owned vehicles acquire additional Common  Shares, dispose of some or all of the Common Shares held by it indirectly  through his wholly-owned companies, or continue to hold Common Shares in  the normal course of its investment activities, subject to applicable  securities laws and the certain other transfer restrictions.

ots Originaltext: NewWest Gold Corporation
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For further information: (including a copy of the report to be filed
with  CanadiaConstantine S. (Don) Yannias, Attorney-in-fact for Jacob
E. Safra, +1-(312)-640-7000

Weitere Meldungen: NewWest Gold Corporation

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