Trading Symbol - NMD.V
VANCOUVER, Oct. 24,
2014 /CNW/ - Nomad Ventures Inc. ("the
Company") ("Nomad") (TSX-V: NMD) is pleased to announce it has
increased its previously announced private placement offering (see
news release dated August 25, 2014)
from 5,000,000 units to 5,500,000 units at a price of $0.05 per unit for gross proceeds of up to
$275,000.
Each unit will continue to consist of one common
share in the capital of Nomad and one share purchase warrant
entitling the holder to acquire one additional common share of
Nomad, 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.
Nomad shall rely on the accredited investor
exemption (British Columbia,
Alberta and Ontario) and the friends and relatives
exemption (British Columbia) in
accordance with National Instrument 45-106 – Prospectus and
Registration Exemptions.
Nomad 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 exercise
price of each of the finders' warrants will be 10 cents during the first 12 months of the term
of the warrants, or at an exercise price of 15 cents during the last 12 months of the term of
the warrants.
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.
Asset Purchase Agreement to Acquire Barge
Loading Ramp
Nomad is also pleased to announce that it has
entered into an asset purchase agreement (the "Agreement") with
Shane Ivancoe and 0929846 B.C. Ltd.
(the "Vendors") to acquire a 75 foot Barge Loading Ramp for use at
the St. Vincent Bay Property. Under the terms of the
Agreement, the Vendors will sell the Barge Loading Ramp to Nomad
and in consideration of which Nomad will issue a total of 4,000,000
shares to the Vendors.
Mr. Brent
Forgeron, President & CEO states, "The acquisition of
the Barge Loading Ramp is a key component to the transportation and
sale of Aggregate products produced at the St. Vincent Bay
property. The barge ramp is designed to be hinged from a
shore bulkhead with a floating support pontoon that accounts for
the full range of tide levels and provides essential heavy
equipment access from shore to load Aggregate products onto
floating barges up to 10,000 tons in size."
The Asset Purchase Agreement and the transactions
contemplated therein are subject to TSX Venture Exchange
approval.
On behalf of the Board of Directors,
"Brent Forgeron"
President &
CEO
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.