Novadx Ventures Issues Common Shares to Consultant Novadx Ventures Corp, President & CEO, Neil MacDonald, reports:
Not for Dissemination in the U.S.
For Immediate Release
Novadx Ventures Issues Common Shares to Consultant
Novadx Ventures Corp, President & CEO, Neil MacDonald, reports:
(Vancouver, BC, October 21, 2010) Novadx Ventures Corp (“Novadx” or the “Company”) – (TSX‐ V: NDX) announces that it has issued 300,000 common shares (the "Shares") at a price of 19 cents per share to a nominee of Southern Energy Development Co. and Mr. Roy Dobbins. The Shares were issued in connection with the option agreement between the Company's wholly‐ owned subsidiary, MCoal Corporation ("MCoal") and The Miami Land Company for the "Dade Prospect", located in Dade County, Georgia, previously announced on September 8, 2010. The Southern Energy nominee is at arm's length to both Novadx and to MCoal.
The Shares are subject to a hold period of four months and one day, expiring on February 20, 2011.
About Novadx: Novadx is a Vancouver‐based Investment Company whose primary focus is on providing merchant banking services to natural resource companies. Novadx structures and makes direct equity investments as a principal and provides management and other related services to companies in specific resource sectors, such as MCoal Corporation, a subsidiary company that has commenced production from the Rosa mine a metallurgical coal mine in the State of Alabama, USA. For more information please visit www.novadx.com.
About MCoal: MCoal is a wholly‐owned subsidiary of Novadx Ventures Corp. and operates the Rosa Coal Mine. The Rosa Mine is a metallurgical coal mine located in Northern Alabama, approximately 40 miles north of the City of Birmingham. In addition to operating the Rosa Mine, MCoal is actively evaluating a number of high quality coal acquisition opportunities in the Appalachian coal region to increase its reserves and production.
ON BEHALF OF THE BOARD Neil MacDonald President and CEO and Director For more information about Novadx Ventures Corp. please contact:
Neil MacDonald (604) 633‐2776 ext 23 [email protected]
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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.