Business
Nortec Announces New Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - November 9, 2021) - NORTEC MINERALS CORP. ...
About this update from Nortec Minerals Corp
[{"type":"text","content":"Nortec Announces New Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - November 9, 2021) - NORTEC MINERALS CORP. (TSXV: NVT) (the \"Company\" or \"Nortec\"): The Company announces that it intends to complete a non-brokered private placement of up to 12,500,000 units at a price of $0.02 per unit (the \"Units\") to raise gross proceeds of up to $250,000 (the \"Offering\"), subject to receipt of TSX Venture Exchange approval. Each Unit will consist of one common share and one common share purchase warrant entitling the holder to purchase one additional common share at an exercise price $0.05 per common share for a period of five years from the date of issue.The Company may pay finder's fees and/or commissions to eligible persons in connection with the Offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange.The Company intends to use the net proceeds of the Offering for working capital and for general corporate purposes.In accordance with applicable securities laws, all securities issued under the Offering will be subject to a four month and one day hold period from the date of issuance. Closing of the Offering is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.Nortec announces that it will not be proceeding with the $350,000 non-brokered private placement previously announced on July 13, 2021.No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.On behalf of the Board of Directors,\"Michael Malana\"Interim CEO, CFO and DirectorP: (604) 561-2687About Nortec Minerals Corp...