Nortec Minerals announces Closing of the Private Placement
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 615, 800 West Pender Street
Vancouver BC V6C 2V6, Canada
Phone: +1 604-717-6426
NORMIECU S.A.
S 864 Rafaelle Gianetti y las Begonias
Quito Ecuador
Phone: +593 3554855
TAMMELA MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
Nortec Minerals announces Closing of the Private Placement
Vancouver, BC / The Newswire / July 19 , 2019 – NORTEC MINERALS CORP . (the
“Company” or “Nortec”) (TSXV: NVT): Further to Nortec’s press release dated June 4 ,
2018, the Company announces that i t has closed the Private Placement for 4,350,000 units
for gross proceeds of $ 108,750. Each Unit consisting of one common share at a price of
$0.025 and one half (1 / 2) common share purchase warrant (the “Warrants”), entitling the
holder to purchase one a dditional common share at an exercise price $0.05 per common
share for a full warrant for two years from the date of issue.
The Units will be distribut ed to shareholders in accordance with the rules and regulations
of the Securities Act and TSX Venture Exchange policies. All shares issued will accordingly
be subject to a 4 (four) month hold period from the date of issu e. A finder's fee of 7.5% in
Units will be payable on portions of the Placement. TSX Venture Exchange approved the
closing of the Private Placement.
Mohan R. Vulimiri, M.Sc., P . Geo, Director and CEO of Nortec Minerals, is a Qualified Person
as defined by NI 43 -101. Mr. Vulimiri has approved the corporate and technical content
contained in this press release.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British
Columbia. Nortec earned a 51% interest of Tomboko Gold Project by incurring exploration
expenditures of US$ 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 Kanka n and the Prefecture of Siguiri and
immediately west of the Siguiri Gold Mine operated by An gloGold-Ashanti. Nortec also
spent approximately US$ 1 million of the required US$ 2.5 million to earn the remaining
49%. This will convert to pro-rata interest as defined in the Agreement.
Nortec also has a 100% interest, subject to a 1% Net Smelting Royalty, in the Cottonwood
Vanadium-Uranium property located in Utah, USA. The Cottonwood Project area contains
historical vanadium and uranium mineral occurrence s, prospects and underground
workings. The project area is also underlain at depth by the vanadium -hosting, Jurassic
Entrada Sandstone and Triassic Shinarump Conglomerate formations, which are favorable
for potential discoveries.
The majority of the deposits are located in an elongated cluster in eastern Garfield County,
Utah. The deposits, discovered in 1913, were intermittently mined first for radium, and
then for vanadium. Up to 1944, nearly 500 tons of high -grade ore were mined. During the
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 615, 800 West Pender Street
Vancouver BC V6C 2V6, Canada
Phone: +1 604-717-6426
NORMIECU S.A.
S 864 Rafaelle Gianetti y las Begonias
Quito Ecuador
Phone: +593 3554855
TAMMELA MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
period 19 48 through 1978, some 130 properties in the Henry Mountains had produced
79,500 tons of ore with an average grade of 0.30 percent U 3O8 and containing 474,500
pounds of uranium oxide (U 3O8). In addition, vanadium has been recovered from 63,000
tons with an average grade of 1.35 percent V 2O5 and containing 1,694,100 pounds of
vanadium oxide (V 2O5) (Re: W.L. Chenoweth, 1980, Henry Mountains Symposium , Utah
Geological Association).
In addition, the Company has a minority interest in the Tammela Gold & Lithium Project in
South-West Finland. Sunstone Metals (formerly Avalon Minerals), a public Australian
mining company has earned over 80% interest in the Tammela Project. Sunstone has
completed more than 3,000 meters diamond drilling on the Kietyonmaki lithium p rospect
and the Satulinmaki and Riukka gold 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.