Nortec Announces Proposed Extension of Term of Warrants

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(TheNewswire)

   

Vancouver, BC / TheNewswire / April 16, 2018 – NORTEC MINERALS CORP. (the “Company” or “Nortec”) (TSXV: NVT) - Nortec announces it will be applying to the TSX Venture Exchange (the “Exchange”) for approval to extend the expiry date of 9,136,000 common share purchase warrants (the “Warrants”) that were issued as part of a non-brokered private placement completed by the Company in April 2015.

The Warrants are exercisable for common shares of the Company at a price of $0.10 per common share and presently bear an expiry date of April 28, 2018. The Company is proposing to extend the expiry date of the warrants by an additional 24 months to 5:00 p.m., Vancouver, British Columbia, time on April 28, 2020. All other terms and conditions of the warrants, including the exercise price and the accelerated expiry provision, will remain the same. The proposed extension of the expiry date is conditional upon the receipt of Exchange approval.  

Additional details of the warrants are provided in the Company’s press release dated April 28, 2015.  

About Nortec Minerals Corp.

Nortec is a mineral exploration and development company based in Vancouver, British Columbia. Nortec is earning an 80% interest in The Golden Rule Limited’s holdings in Tomboko Permit and other holdings in Northeastern Guinea, West Africa. The Tom 1, Tom 2 and Tom 3 targets are located in the Tomboko Permit.

The Company also has a 49% interest in the Tammela Lithium and Gold Project in South-West Finland. Sunstone Metals (formerly Avalon Minerals), a public Australian mining company has earned the 51% interest and is carrying out the 29% Stage 2 earn-in interest on the Tammela Project. Sunstone has completed more than 3,000 meters diamond drilling on the Kietyonmaki Lithium prospect and the Satulinmaki and Riukka gold prospects that comprise the Tammela Project. Drilling on the Kietyonmaki returned values of 42.1m at 1.05% Li2O from 17.9m downhole, including 24.2m at 1.44% Li2O from 17.9m and 9m at 2.00% Li2O from 29m downhole. 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

Chief Executive Officer and Chairman         

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

  

Copyright (c) 2018 TheNewswire - All rights reserved.