Nortec Minerals Corporation Announces Private Placement
Vancouver, September 7, 2017 - Nortec Minerals Corp.. (the "Company" or "Nortec") (TSXV: NVT) is arranging a non-brokered private placement ("Placement") of up to 7,500,000 common shares of the Company at a price of $0.075 per common share (the "Shares") for gross proceeds of up to $562,500. The Shares will be distributed to purchasers in accordance with the rules and regulations of the Securities Act and TSX Venture Exchange policies. All shares issued will be subject to a 4 (four) month hold period from the date of issuance in accordance with applicable rules and regulation of the Securities Act and TSX Venture Exchange policies. A finder's fee may be payable in connection with the Placement.
The proceeds of the Placement will be used for working capital, to continue the exploration including drilling of the Tomboko Gold Project and evaluation of other gold projects located in Northeastern Guinea, West Africa. A Technical Report compliant with NI 43-101 standards is in the process of completion on the Tomboko Project.
Completion of this Placement is subject to the approval of the TSX Venture Exchange.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has a 49% interest in the Tammela Gold & Lithium Project in South-West Finland. Avalon Minerals, a public Australian mining company has earned the 51% interest and is carrying out the 29% Stage 2 earn-in interest on the Tammela Project. Avalon has completed more than 3,000 meters diamond drilling on the Kietyonmaki lithium prospect and the Satulinmaki and Riukka prospects that comprise the Tammela Project. Detailed information on the Company's projects have been posted on the Company's website www.nortecminerals.com.
| On behalf of the Board of Directors, NORTEC MINERALS CORP. "Mohan R. Vulimiri" Mohan R. Vulimiri, CEO and Chairman |
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
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