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,
"Brent Forgeron"
President
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.