Business
Correction - Nortec Minerals announces Private Placement
(via TheNewswire) Vancouver, BC / The Newswire / April 23, 2019 - NORTEC MINERALS CORP...
About this update from Nortec Minerals Corp
[{"type":"text","content":"Correction - Nortec Minerals announces Private Placement(via TheNewswire)\n \n \nVancouver, BC / The Newswire / April 23, 2019 - NORTEC MINERALS CORP. (the \"Company\" or \"Nortec\") (TSXV: NVT): Nortec is arranging the non-brokered private placement of up to 28,000,000 units at a price of $0.025 per unit (the \"Units\") for gross proceeds of up to $700,000 (the \"Offering\") pursuant to a discretionary waiver of the $0.05 minimum pricing requirement granted by the TSX Venture Exchange. Each Unit consisting of one common share and one half (1/2) common share purchase warrant (the \"Warrants\"), entitling the holder to purchase one additional common share at an exercise price $0.05 per common share for a full warrant for two years from the date of issue. The Units will be distributed to shareholders in accordance with the rules and regulations of the Securities Act and TSX Venture Exchange policies. \n\n \n \nThe proceeds of the Private Placement will be for clearing the necessary arms-length payables, including legal, auditing, accounting, filing fees, rent and outstanding payables for the work program in Guinea. The balance of the funds will be to start the initial work program on the Guinea Tomboko property as recommended in the NI43-101 compliant report authored by Dr. Serigne Dieng, Ph.D., AuSIMM and ongoing working capital, office, administrative, legal expenses and accounting services.\n\n \n \nAll shares issued will be subject to a 4 month hold period from the date of issuance in accordance with applicable securities laws. Completion of this private placement is subject to the approval of the TSX Venture Exchange. Finder's fees may be payable in connection with the placement.\n\n \n \nMohan R. Vulimiri, M.Sc., P. Geo, Director and CEO of Nortec Minerals, is a Qualified Person as defined by NI 43-101. Mr. Vulimiri has approved the corporate and technical content contained in this press release. \n\n \n \nAbout Nortec Minerals Corp.\n\n \n \nNortec is a mineral exploration and development company based in Vancouver, British Columbia. Nortec earned a 51% interest of Tomboko Gold Project by incurring exploration expenditures of US$ 1 million and completing Phases 1 and 2 of the Definitive Option Agreement (Agreement) entered with The Golden Rule Mining Inc. in 2017. The Tomboko Gold Project is located in the historic mineral ...