Nortec Ventures Corp.

Nortec Ventures Corp.

December 18, 2006 12:43 ET

Nortec Announces Flow-Through Financing With Mineralfields Group

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2006) - Nortec Ventures Corp. (TSX VENTURE:NVT), (the "Company"), is pleased to announce that, subject to regulatory acceptance, the Company has arranged a non-brokered private placement to the Mineralfields Group of 2,500,000 flow-through units ("FT Units") at a price of $0.30 per FT Unit for total gross proceeds of $750,000. Each FT Unit will consist of one flow-through common share and one non-flow through common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Company for a period of two years at a price of $0.45 per share during the first year and $0.60 during the second year. In the event that the Company's shares trade on the TSX Venture Exchange at a weighted average trading price equal to or exceeding $0.60 per share during the first year or $0.80 per share during the second year, for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof. In such case, the Warrants will expire on the 30th day after the date on which such notice is given.

The Company will pay a cash finder's fee equal to 5% of the gross proceeds received by the Company from the sale of the FT Units under the offering. In addition, the Company will issue non-flow-through finder's fee warrants, on the same terms as the Warrants, entitling the holder thereof to acquire up to 7.5% of the number of FT Units sold under the offering.

All securities issued in connection with this financing will be subject to a four month hold period.

Proceeds from this offering will be used to advance exploration on the Company's TL nickel property in the Voisey Bay area of northern Labrador.

About MineralFields

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assents under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Information about the MineralFields Groups is available at

About Nortec

For further details on Nortec Ventures Corp., please visit the Company's website at Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company holds an option to earn a 51% interest in the Ganarin Project, and a 70% interest in the Condorcocha Project, both located in Southern Ecuador, from joint-venture partner Doubloon Exploration Corp. Nortec is earning an undivided 70% interest in Kollismaa-Naranka nickel-copper-PGE project, northern Finland and a 51% interest in TL nickel property, Voisey's Bay area, northern Labrador.

On behalf of the Board of Directors,


Mohan R. Vulimiri, President & CEO

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

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

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