Business
Nortec Minerals announces Extension to the Private Placement
(via TheNewswire) Vancouver, BC / TheNewswire / June 4, 2019 - NORTEC MINERALS CORP ....
About this update from Nortec Minerals Corp
[{"type":"text","content":"Nortec Minerals announces Extension to the Private Placement(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / June 4, 2019 - NORTEC MINERALS CORP. (the \"Company\" or \"Nortec\") (TSXV: NVT): Nortec announces the Company applied for a 30 day extension to the April 25, 2019 non-brokered $700,000 Private Placement (\"Private Placement\"). The extended final date for acceptance of the Private Placement is July 7, 2019. Each Unit consisting of one common share at a price of $0.025 and one half (1/2) common share purchase warrant (the \"Warrants\"), entitling the holder to purchase one additional common share at an exercise price $0.05 per common share for a full warrant for two years from the date of issue. \n\n \n \nThe Units will be distributed to shareholders in accordance with the rules and regulations of the Securities Act and TSX Venture Exchange policies. All shares issued will accordingly be subject to a 4 (four) month hold period from the date of issue. A finder's fee may be payable on portions of the Placement. Completion of this Placement is subject to the approval of the TSX Venture Exchange.\n\n \n \nMohan R. Vulimiri, M.Sc., P. Geo, Director and CEO of Nortec Minerals, is a Qualified Person as defined by NI 43-101. Mr. Vulimiri has approved the corporate and technical content contained in this press release. \n\n \n \nAbout Nortec Minerals Corp.\n\n \n \nNortec is a mineral exploration and development company based in Vancouver, British Columbia. Nortec earned a 51% interest of Tomboko Gold Project by incurring exploration expenditures of US$ 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 rich North-eastern area of the Republic of Guinea, and is within the administrative region of Kankan and the Prefecture of Siguiri and immediately west of the Siguiri Gold Mine operated by AngloGold-Ashanti. Nortec also spent approximately US$ 1 million of the required US$ 2.5 million to earn the remaining 49%. This will convert to pro-rata interest as defined in the Agreement. \n\n \n \nNortec also has a 100% interest, subject to a 1% Net Smelting Royalty, in the Cottonwood Vanadium-Uranium property located in Utah, USA. The Cottonwood Project area contains historical vanadium and ...