Nortec Provides Update on Acquisition of Critical Mineral Zinc Properties in Ontario and TSXV Conditional Approval of Private Placement
Nortec Provides Update on Acquisition of
Critical Mineral Zinc Properties in Ontario and
TSXV Conditional Approval of Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2022) - NORTEC MINERALS CORP. (TSXV:
NVT) (the "Company" or "Nortec"). Further to the Company's press release of June 14, 2022, the
Company wishes to provide an update on its proposed acquisition of the Sturgeon Lake VMS Property
and Mattagami River Zinc Property, both located in Ontario, Canada (the "
Transaction
"). The Company
has filed with the TSX Venture Exchange (the "
Exchange
") documentation requesting conditional
acceptance of the Transaction and is diligently working to address the comments of the Exchange. The
Company also announces that the parties to the share purchase agreement (the "
Agreement
")
respecting the Transaction have agreed amended the Agreement to defer the $25,000 cash payment to
the sellers to such date which is one year after the closing of the Transaction and waive the requirement
to complete a private placement as a condition for closing. All other conditions in the Agreement remain
unamended.
The Company also advises that the Exchange has conditionally accepted the proposed non-brokered
private placement announced in the Company's June 14, 2022 news release, the closing of which is
subject to the Company receiving final approval of the Transaction from the Exchange.
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
.
On behalf of the Board of Directors,
"Michael Malana"
Interim CEO and Director
P: (604) 561-2687
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
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,
performance or achievements of the Company to be materially different from the results, performance
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/131112