Nortec Revises Debt Settlement
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NOT FOR DISTRIBUTION TO UNITED ST ATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Nortec Revises Debt Settlement
Vancouver, BC / February 4, 2022 – NORTEC MINERALS CORP. (the “ Company” or “Nortec”)
(TSXV: NVT) announces that further to its news release of November 17, 2021, the Company has entered
into revised debt settlement agr eements with creditors (the “ Creditors”) to settle outstanding debt of the
Company (the “ Debt Settlement”). The Company settled an aggre gate of CAD$387,416.75 in debt (the
“Debt”) with the Creditors by exchanging CAD$293,855.25 of debt for common shares of the Company
(the “Debt Shares”). The remaining CAD$93,561.50 of the Debt will be forgiven. I n settlement of the
Debt, the Company will issue 2,835,000 Debt Shares to a Creditor who is an arm’s-length services provider
at a deemed price of CAD$0.02 per Debt Share and 4,743,105 Debt Shares to Creditors who are related
parties at a deemed price of CAD$0.05 per Debt Share.
In accordance with applicable securities laws, all securities issued under the Debt Settlement will be subject
to a four month and one day hold period from the date of issuance. Closing of the Debt Settlement 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 TSXV. Th e issuance of Debt Shares will not result
in the creation of a new Control Person, as that term is defined under the policies of the TSXV.
The issuance of certain of the Debt Shares to directors and off icers of the Company pursuant to the Debt
Settlement will each be considered a "related party transaction" as defined in Multilateral Instrument 61-101
- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company will rely
upon exemptions from the valuation and minority shareholder app roval requirements of MI 61-101
contained in sections 5.5(a) and 5.7(1)(a), respectively, with respect to the issuance of the Debt Shares to
the directors and officers.
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 F inland. Detailed information on this
project is posted on the Company’s website www.nortecminerals.com.
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Neither TSX Venture Exchange nor its Re gulation 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, perf ormance 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.