Nubian Forms Australian Subsidiary
Nubian Forms Australian Subsidiary
TORONTO
,
Sept. 23, 2020
/CNW/ - Nubian Resources Ltd. ("Nubian" or the "Company") (TSXV:
NBR) is pleased to announce that the Company has finalized the formation of Blackwood
Prospecting Pty Ltd. ("Blackwood"), a wholly-owned subsidiary, which will hold Nubian's recently
acquired Australian properties (see press releases of
May 28
th
and
July 15
th
, 2020). The directors
and officers appointed by Nubian include
Martin Walter
, President and CEO of Nubian, who has
been appointed Director and President of Blackwood,
Michael Melamed
, who has an accounting,
finance and public company financial reporting background who has been appointed Director and
Financial Controller and
Brendan Bell
, a local Australian businessman based in Bendigo who has
been appointed Director and Secretary. With the formation of this subsidiary, the Company
anticipates near term completion of the acquisitions of the highly prospective Fosterville East Project
and the advanced-stage Yandoit Gold Project both well positioned in the Victoria Gold Fields of
Australia
as well as the
Lefroy
and Mathinna Gold Projects located in
Tasmania
.
In other news, the Company announces that, subject to regulatory approval, it has retained Mackie
Research Capital Corporation ("Mackie") to provide market stabilization and liquidity services to
Nubian in compliance with the policies and guidelines of the TSXV. Mackie will trade the shares of
the Company on the TSXV for the purposes of maintaining a reasonable market and improving
liquidity in the Company's shares. Nubian has agreed to pay Mackie
$4,000
per month during the
term, payable in advance and the agreement can be terminated with 30 days' notice. The
agreement is not a formal market making agreement, there are no performance factors contained in
the agreement and Mackie will not receive any shares or options from the Company as
compensation for services under the agreement.
The Company also reports that it has granted, pursuant to its stock option plan, to directors and
consultants an aggregate of 100,000 stock options exercisable at
$0.60
for a period of five years in
respect of 50,000 options and two years in respect to the other 50,000 options.
About Nubian Resources
Nubian Resources Ltd. is a public traded precious and base metals exploration company listed on
the TSX Venture Exchange. The Company is managed by a team of experienced mining and
geological professionals. In
May 2020
, Nubian entered into an agreement to acquire and develop the
Yandoit Gold Project in central
Victoria, Australia
and in
July 2020
, Nubian entered into an
agreement to acquire Stavely Mineral Limited's Fosterville East project and its
Lefroy
and Mathinna
projects in
Tasmania
. Nubian's main asset is the Esquilache Silver Project located within the Tintaya
porphyry copper belt of southern
Peru
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to identify forward-looking information
and are based on Nubian's current belief or assumptions as to the outcome and timing of such future
events. Actual future results may differ materially. Various assumptions or factors are typically
applied in drawing conclusions or making the forecasts or projections set out in forward-looking
information. Those assumptions and factors are based on information currently available to Nubian.
Although such statements are based on reasonable assumptions of Nubian's management, there can
be no assurance that any conclusions or forecasts will prove to be accurate. While Nubian
considers these assumptions to be reasonable based on information currently available to them, they
may prove to be incorrect. Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements to
be materially different from any future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include risks inherent in the exploration and
development of mineral deposits, including risks relating to changes in project parameters as plans
continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to
changes in mineral prices and the worldwide demand for and supply of minerals, risks related to the
COVID-19 pandemic and current global financial conditions, increased competition, access and
supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to
obtaining necessary licenses and permits, financing, capitalization and liquidity risks, title and
environmental risks and risks relating to delay or failure to satisfy the closing conditions relating to
Company's acquisitions in
Australia
.
The forward-looking information contained in this release is made as of the date hereof, and Nubian
is not obligated to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws.
Because of the risks, uncertainties and assumptions contained herein, investors should not place
undue reliance on forward-looking information. The foregoing statements expressly qualify any
forward-looking information contained herein.
SOURCE
Nubian Resources Ltd.
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http://www.newswire.ca/en/releases/archive/September2020/23/c1823.html
%SEDAR: 00024798E
For further information:
Martin Walter, Chief Executive Officer, Nubian Resources Ltd., at +1-416-
389-5692 or [email protected]
CO: Nubian Resources Ltd.
CNW 09:38e 23-SEP-20