Trading Symbol - NMD.V
VANCOUVER, Nov. 4, 2014 /CNW/ - Nomad Ventures Inc. (the "Company") is pleased to announce that the Company has now closed the first tranche of the private placement announced on August 25, 2014 and October 23, 2014. A total of 4,340,000 units were issued at a price of $0.05 per unit for a total dollar amount of $217,000. Each unit consists of one common share in the capital of the company and one share purchase warrant entitling the holder to acquire one additional common share of the company, exercisable for a period of five years following the closing date of the private placement. The exercise price of each of the share purchase warrants will be $0.05 during the five year term of the warrants.
Finder's fees totaling $15,700 and 394,000 finders' warrants will be paid with respect to the first tranche of the private placement. Each finder's warrant will be on the same terms as the warrants issued under the private placement.
The shares and any shares acquired upon the exercise of the warrants are subject to a 4 month hold period expiring on March 4, 2015.
The gross proceeds of the offering will be used in part for general working capital and exploration expenditures on the Company's St. Vincent Bay Aggregate Property.
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 ability to complete the balance of the proposed private placement financing; and 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