Nunavik Enters into Strategic Advisory Agreement & Grants Options
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Nunavik Nickel Mines Ltd.
2864 chemin Sullivan Val-d’Or, Québec J9P 0B9 819.824.2808 (main)
819.824.3379 (fax)
NUNAVIK ENTERS INTO STRATEGIC ADVISORY AGREEMENT & GRANTS OPTIONS
Val-d’Or, Québec, April 4, 2014 – Nunavik Nickel Mines Ltd. (KZZ-TSX-V; “Nunavik” or the “Company”) announces that it has entered into a consulting agreement with Red Cloud Mining Capital Inc. (“Red Cloud”) pursuant to which Red Cloud will assist the Company in an advisory role with respect to the identification, evaluation and analysis of potential acquisitions by the Company. Pursuant to the agreement, Red Cloud will perform the services outlined in the agreement for a period of six months for a total fee of $15,000 in cash and 150,000 common shares of the Company subject to acceptance of the terms of the share issuance by the TSX Venture Exchange, as well as 39,272 incentive stock options as outlined below. Red Cloud will also receive additional compensation in the event of a successful transaction completed by the Company based on the value of such transaction and subject to the approval of the TSX Venture Exchange.
With the assistance of Red Cloud, the Company intends to evaluate new projects to increase shareholder value, including, but not limited to, opportunities in various resource and non-resource sectors, which may result in the Company undertaking a change of business under the policies of the TSX Venture Exchange if the opportunity materializes. At this time, no transactions are in place, nor is there any assurance that a new project will be concluded in the future. The Company continues to review alternatives to advance exploration and development at its Nunavik and Abitibi nickel-copper-sulphide projects.
The Company also announces that it has granted an aggregate of 114,272 incentive stock options to directors, officers and consultants of the Company (including Red Cloud), pursuant to the Company’s Stock Option Incentive Plan. The options are exercisable at a per share price of $0.065 for a period of five years from issuance. Any common shares issued on exercise of these options by the Company’s directors and officers will be subject to a hold period until August 4, 2014, pursuant to the policies of the TSX Venture Exchange.
About Red Cloud Mining Capital Inc.
Red Cloud is a ‘new concept’ capital markets advisory firm. Working as an extension of management, we use our global network of capital markets specialists and our extensive experience in the many facets of the business of mining to help companies identify alternative sources of capital and quality actionable growth opportunities, and to generate and maintain important relationships with key investors.
About Nunavik Nickel Mines Ltd.
Nunavik Nickel Mines Ltd. holds title to the Fortin Property, the Marymac Prospect, the Shoot Out Prospect (East and West combined) and the Donnybrook and Overtime Claims, which were previously held by Golden Valley Mines Ltd., and may acquire and generate other nickel ventures in Canada and elsewhere.
For additional information, please contact:
Glenn J. Mullan
Chief Executive Officer 2864 chemin Sullivan Val-d’Or, Québec J9P 0B9 Tel.: 819-824-2808, x1222 Email: [email protected]
Forward Looking Statements:
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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