Nova Natural Resources to Accept Private Placement from HS Financial Management Group

* Reuters is not responsible for the content in this press release.

Tue Jun 16, 2009 4:19pm EDT

FORT LAUDERDALE, Fla.--(Business Wire)--
Nova Natural Resources Inc. (OTCBB:NVNJ) today announced a definitive agreement
to accept a Private Placement Investment by HS Financial Management Group in an
all-for-current asset transaction valued at approximately C$1Million. This
transaction will HS Financial Management Group to become the largest shareholder
of Nova Natural Resources and will place HS Financial Management as the
controlling group of the company. 

The combination of Nova Natural Resources and HS Financial Management will
provide clients from around the world with highly professional solutions that
will create timely value for their corporate financial and management structure.
Together, the two companies will meet a wider set of shareholder needs and
demands in strong corporate transparency and have a significantly greater
opportunity in developing into new markets. 

Under the terms of the agreement, which has been approved by the respective
Board of Directors, HS Financial Management shall vent in an equivalent of
C$1Million worth of current assets in exchange for the majority control position
in the common share structure of Nova Natural Resources. The closing is expected
to be completed in 30 days following the due diligence period. 

In the combined company, Mr. Richard Chan will be appointed as the Chief
Executive Officer of the new company and shall be responsible in promoting and
growing the new company in the global financial sector. Other executive
positions within the company will be appointed once the integration of the two
companies and appointment of the new Board of Directors. 

Integration

After the closing, the new company will be focused in providing and delivering
professional financial consultancy services to both North American and Asian
clients. Details regarding company`s operation, services and projects will be
available in a timely manner. 

Due to the absence at this time of estimates of the acquisition-related
restructuring costs and the allocation of the purchase price between goodwill,
other intangibles and equity based compensation expenses related to SFAS123R,
Nova Natural Resources is currently unable to provide GAAP estimates on future
earnings. 

Tender Offer of Stock Repurchases

The board of HS Financial Management has approved and authorized the purchase of
a current control block of Nova Natural Resources common stock from a private
group of shareholders in a private stock purchase not to exceed $300,000 which
must be completed in 30 Days. 

About Nova Natural Resources Inc.

Nova Natural Resources is an OTCBB listed company under the symbol NVNJ. Nova
Natural Resources is currently a development stage company. 

About HS Financial Management Group 

HS Financial Management Group is a privately owned company registered under the
British Columbia Business Act and is involved in providing investment banking
consultancy services to clients across China and North America. 

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of
the safe harbor provisions of the United States Private Securities Litigation
Reform Act of 1995. Words such as "expect," "estimate," "project," "budget,"
"forecast," "anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue," and similar expressions are
intended to identify such forward-looking statements. Forward-looking statements
in this press release include, without limitation, forecasts of market growth,
future revenue, benefits of the proposed merger, expectations that the merger
will be accretive to Adobe's results, future expectations concerning available
cash and cash equivalents, Nova`s expectations with respect to future stock
repurchases following the merger, including the timing and amount of such
repurchases, and other matters that involve known and unknown risks,
uncertainties and other factors that may cause actual results, levels of
activity, performance or achievements to differ materially from results
expressed or implied by this press release. Such risk factors include, among
others: difficulties encountered in integrating merged businesses; uncertainties
as to the timing of the merger; approval of the transaction by the stockholders
of the companies; the satisfaction of closing conditions to the transaction,
including the receipt of regulatory approvals; whether certain market segments
grow as anticipated; the competitive environment in the software industry and
competitive responses to the proposed merger; and whether the companies can
successfully develop new products and the degree to which these gain market
acceptance. Actual results may differ materially from those contained in the
forward-looking statements in this press release. Additional information
concerning these and other risk factors is contained in Nova's most recently
filed Forms 10-K and 10-Q. 



Nova Natural Resources Inc.
Wayne Doss, 828-489-9409 

Copyright Business Wire 2009

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