NQ Exploration Inc.

NQ Exploration Inc.

September 04, 2009 11:39 ET

NQ Exploration Inc.: $250,000 Convertible Debenture Financing

LAVAL, QUEBEC--(Marketwire - Sept. 4, 2009) - NQ Exploration Inc. (TSX VENTURE:NQE) (the "Company") is pleased to announce that it has negotiated two convertible debenture financings for $125,000 each.

Each debenture bears interest at 12% per year and matures in three years. The principal and interest are convertible into common shares of the Company at a price of $0.18 per share for a 24-month period following the closing of the financing. Each debenture is accompanied by 694,445 warrants, with each warrant entitling its holder to purchase one common share of the Company for $0.24 over a period of 24 months.

The principle and interest are payable in cash or, at the option of the Company, in common shares of the Company, subject to the approval of the TSX Venture Exchange, and, if required, the shareholders.

There will be a hold period of four months on the sale of any securities issued under the financings. No commission was paid, nor were any shares issued as a commission. The financings are subject to regulatory approval.

The Company will primarily use the proceeds of the financings for exploration on its properties and general corporate purposes.


NQ Exploration Inc. is a new mining exploration company with a solid portfolio of 15 mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold, base metal and uranium deposits.

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.

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