Trading Symbol - NMD.V
VANCOUVER, June 21, 2012 /CNW/ - Nomad Ventures Inc. is pleased to announce that its directors have approved a proposed non-brokered private placement offering of 2,444,444 units, to raise proceeds of up to $400,000. The private placement will consist of 1,333,333 non-flow-through units priced at 15 cents per unit and 1,111,111 flow-through units priced at 18 cents per unit, as more particularly described below.
Each non-flow-through unit consists of one non-flow-through common share in the capital of the company and one share purchase warrant entitling the holder to acquire one non-flow-through common share of the company, exercisable for a period of 24 months following the closing date of the private placement. The exercise price of each of the share purchase warrants will be 20 cents during the first 12 months of the term of the warrants and 25 cents during the last 12 months of the term of the warrants.
Each flow-through unit consists of one flow-through common share in the capital of the company and one share purchase warrant entitling the holder to acquire one non-flow-through common share of the company, exercisable for a period of 24 months following the closing date of the private placement. The exercise price of each of the share purchase warrants will be 30 cents during the first 12 months of the term of the warrants and 35 cents during the last 12 months of the term of the warrants.
The gross proceeds of the non-flow-through offering will be used in part for general working capital and the flow-through portion of the private placement will be used for qualified Canadian exploration expenditures.
The company will pay a finder's fee in connection with the private placement of 10 percent cash, plus 10 percent finders' warrants, where permitted by the TSX Venture Exchange. The finders' warrants will be on the same terms as the non-flow-through offering warrants.
The private placement is subject to the approval of the TSX Venture Exchange approval.
On behalf of the Board of Directors,
Nomad Ventures Inc.
Forward Looking Statements
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. The Company 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 the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's ability to identify, acquire and evaluate a new business opportunity; and the Company'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, the Company 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.
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