Nortec Minerals announces Private Placement
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 915, 700 West Pender Street
Vancouver BC V6C 1G8, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
Nortec Minerals announces Private Placement
Vancouver, BC / The Newswire / April 23 , 2019 – NORTEC MINERALS CORP . (the
“Company” or “Nortec”) (TSXV: NVT): Nortec is arranging the non -brokered private
placement of up to 28,000,000 units at a price of $0.0 25 per unit (the “Units”) for gross
proceeds of up to $700,000 (the “Offering”) pursuant to a discretionary waiver of the $0.05
minimum pricing requirement granted by the TSX Venture Exchange. Each Unit consisting
of one common share and one common share purchase warrant (the “Warrants”), entitling
the holder to purchase one additional common share at an exercise price $0.05 per
common share for two years from the date of issue. The Units will be distribut ed to
shareholders in accordance with the rules an d regulations of the Securities Act and TSX
Venture Exchange policies.
The proce eds of the Private Placement will be for clearing the neces sary arms -length
payables, including legal, auditing , accounting , filing fees , rent and outstanding
payables for th e work program in Guinea. The b alance of the funds will be to start the
initial work program on the Guinea Tomboko property as recommended in the NI43 -101
compliant report authored by D r. Serigne Dieng, Ph.D., AuSIMM and ongoing working
capital, office, administrative, legal expenses and accounting services.
All shares issued will be subject to a 4 month hold period from the date of issuance in
accordance with applicable securities laws. Completion of this private placement is subject
to the approval of the TSX Venture Exchange. Finder's fees may be payable in connection
with the placement.
Mohan R. Vulimiri, M.Sc., P . Geo, Director and CEO of Nortec Minerals, is a Qualified Person
as defined by NI 43 -101. Mr. Vulimiri has approved the corporate and tec hnical content
contained in this press release.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British
Columbia. Nortec earned a 51% interest of Tomboko Gold Project by incurring exploration
expenditures of US$ 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.
The Company has a 20% interest in the Tammela Gold & Lithium Project in South -West
Finland. Sunstone Metals (formerly Avalon Minerals), a public Australian mining company
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 915, 700 West Pender Street
Vancouver BC V6C 1G8, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
has earned 80% interest in the Tammela Project. Sunstone has completed more than 3,000
meters diamond drilling on the Kietyonmaki lithium prospect and the Satulinmaki a nd
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.