VANCOUVER, May 14, 2015 /CNW/ - Nomad Ventures Inc. ("Nomad") (TSX-V: NMD) is very pleased to announce that it has received a purchase order for 70,000 tonnes of aggregate and specialty rock products from Apex Siteworks Ltd ("Apex"), a Vancouver area construction contractor and developer (the "Apex Purchase Order"). The Apex Purchase Order represents revenue of more than $2 million and has a delivery schedule over the next 2 years.
The Apex Purchase Order represents approximately 15% of Nomad's current annual permitted extraction volume from the St. Vincent Bay Quarry and is an important milestone towards establishing the company as a significant aggregate and rock product supplier for the Vancouver/Lower Mainland market.
Supply contracts for other construction and development companies are currently being negotiated by Nomad with the intention of meeting the initial allowable volumes of the Company's mining permit.
Nomad will be preparing the St. Vincent Bay Quarry to be ready for the extraction of aggregate and specialty rock products. Nomad anticipates sales under the Apex Purchase Order will occur shortly after the site is ready for extraction.
Technical material in this news release has been reviewed by James H. Place, P.Geo., a Director of the company and a Qualified Person as defined in NI43-101.
The commencement of production on the St. Vincent Bay Property will not be based on a feasibility study of mineral reserves demonstrating economic and technical viability.
On behalf of the Board of Directors,
Nomad Ventures Inc.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Nomad cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Nomad's control. Such factors include, among other things: risks and uncertainties relating to Nomad's limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Nomad undertakes no obligation to publicly update or revise forward-looking information.
Neither 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 release.
SOURCE Nomad Ventures Inc.
For further information: Phone: 604 987-6012, Email: [email protected], Website: www.nomadventures.ca