Trading Symbol - NMD.V
VANCOUVER, June 16, 2015 /CNW/ - Nomad Ventures Inc. (the "Company") (TSX-V: NMD) announce that as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure. The information contained in this news release is intended to provide clarification to disclosure on the Company's website (the "Website"), Momentum Public Relations Website (the "IR Website") and disclosure contained in the following investor materials contained on the Website and the IR Website (the "Investor Materials"): (i) our Q2 2015 corporate presentation (the "Corporate Presentation"), and (ii) the January 20, 2015 Vertus Research report.
We are issuing this news release to clarify the following disclosure:
1. Disclosure of Resource Estimate and Economic Assessment on the St. Vincent Bay Property
The Investor Materials disclosed a resource estimate for the sand and gravel and inferred resource of granitic rock. The Company retracts all disclosure relating to the resource estimate for the sand and gravel and the inferred resource of granitic rock contained in the Investor Materials as it has not prepared any such resource estimates.
The Investor Materials also improperly disclosed future commercial production and commercial viability of the St. Vincent Bay Property. As the Company has not prepared an economic assessment, the Company retracts all disclosure relating to future commercial production and commercial viability. In order for the Company to make such disclosure, it would need a pre-feasibility study or feasibility study based on current indicated or measured resource estimates. If the Company does not advance to production prior to achieving these milestones, the resulting operations would have a higher risk of technical or economic failure.
2. Disclosure of Exploration Information
The Website and the Corporate Presentation disclosed two samples taken from the St. Vincent Bay Property (the "Samples") that did not include all of the information required by sections 3.2 and 3.3 of NI 43-101. As the Samples were taken from the previous operator of the St. Vincent Bay Property, the Company and its qualified person are unable to verify the results of the Samples. As such, the Company has retracts all disclosure relating to the Samples and has removed such disclosure from its Website and Corporate Presentation.
3. Non-Reliance of Information
The Company cautions investors that all non-compliant disclosure relating to the resource estimate for the sand and gravel and inferred resource of granitic rock on the St. Vincent Bay Property; future commercial production and commercial viability of the St. Vincent Bay Property; and the Samples contained on any website or any other written disclosure document is not to be relied upon.
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 NI 43-101.
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 and commencement of production. 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