Vancouver, BC / May 2, 2022 – NORTEC MINERALS CORP. (the “Company” or “Nortec”) (TSXV:
The Company wishes to correct certain information respecting the terms of its private placement referenced in the Company’s news release dated April 28, 2022.
The Company announces that it has not closed its non-brokered private placement announced on November 9, 2021, of up to 12,500,000 units at a price of $0.02 per unit (the “Units”) to raise gross proceeds of up to $250,000 (the “Offering”), rather, the Company has recently closed the second tranche of the Offering of 375,000 units for gross proceeds of $7,500 and that the Offering remains open.
To date, the Company has issued 5,375,000 units for gross proceeds of $107,500. The Company announces that it has received an extension to May 18, 2022 as the final date for acceptance of the Offering. All terms of the Offering remain unchanged, that is, each Unit will consist of one common share and one common share purchase warrant entitling the holder to purchase one additional common share at an exercise price $0.05 per common share for a period of five years from the date of issue. In accordance with applicable securities laws, all securities issued under the Offering are subject to a four month and one day hold period from the date of issuance. The funds raised are for working
capital and for general corporate purposes.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
Interim CEO, CFO and Director
P: (604) 561-2687
About Nortec Minerals Corp.
Nortec is a mineral exploration company based in Vancouver, British Columbia. Nortec has a 17% interest
in the Tammela Gold and Tammela Lithium projects in Southwest Finland. Detailed information on this
project is posted on the Company’s website www.nortecminerals.com.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release. This press release contains certain forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.