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.
Qualified Person
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,
"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 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.