Nortec Announces New Non-Brokered Private Placement
Nortec Announces New Non-Brokered Private
Placement
Vancouver, 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 Director
P: (604) 561-2687
About Nortec Minerals Corp.
Nortec is a mineral exploration company based in Vancouver, British Columbia. Nortec has a 17%
interest in the Tammela Gold and Tammela Lithium projects in Southwest Finland. Detailed information
on this project is posted on the Company's website
www.nortecminerals.com
.
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.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/102731