NQ Exploration Inc.

NQ Exploration Inc.

April 30, 2008 09:26 ET

NQ Exploration Inc. Announces the Closing of its Initial Public Offering

MONTREAL, QUEBEC--(Marketwire - April 30, 2008) - NQ Exploration Inc. (TSX VENTURE:NQE) announces that it has completed its initial public offering with a placement of a gross amount of $400,000 that will go to the working capital of the Company with a prospectus dated February 14th, 2008. A total of 4,000 Units have been issued, each unit being composed of 500 common shares at a price of $0.20 and 250 common share purchase warrants. Each warrant allows the holder to purchase one additional common share at a price of $0.25 for a period of twelve months. Jones, Gable & Company Limited as acted as agent in the offering. The Company paid the agent a commission of $21,170 and compensation options that allow the holder to purchase 200,000 common shares of the Company at a price of $0.20 per common share until February 14th, 2009.

The prospectus also allows to qualify the offering of: (i) 3,178,320 common shares of the Company that will have to be issued as flow-through shares and (ii) 872,100 common shares of the Company that will have to be issued at the effective exercise of 969 special warrants that have been issued in December 2007. The special warrants have been distributed at a price of $1,000 for gross proceeds of $969,000.

The TSX Venture Exchange approved the listing of the common shares of NQ Exploration Inc. They will start trading on April 30th, 2008 under the symbol NQE.


The activities of NQ Exploration Inc. consist of acquiring, exploring, developing and eventually exploit mineral properties. The principal assets of NQ Exploration Inc. consist of a portfolio of 25 mineral properties on the James Bay Territory: 18 of those properties have been acquired from Everton Resources Inc. (TSX VENTURE:EVR) and 7 properties were acquired from Societe de developpement de la Baie-James ("SDBJ").

The Board of Directors of NQ Exploration Inc. is composed of David Grondin, Pierre Folco, Andre Audet and Christian Perrier. Mr. Grondin will act as president and chief executive officer, Mr. Marc Carbonneau is Chief financial officer and Mr. Daniel Bernard will act as Vice-President Exploration.

The Company has 24,000,420 common shares issued and outstanding.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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