Nortec Ventures Corp.
TSX VENTURE : NVT

Nortec Ventures Corp.

September 08, 2008 17:59 ET

Nortec Ventures Corp.: Second Tranche of Non-Brokered Private Placement Closed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2008) - Nortec Ventures Corp. ("Nortec" or the "Company") (TSX VENTURE:NVT) announces that, further to its press release dated August 15, 2008, the Company has closed the second and final tranche of its non-brokered private placement previously announced on July 23, 2008. A total of 1,144,815 units ("Units") at a price of $0.27 per Unit were placed through the second and final tranche for total gross proceeds to the Company of an additional $309,100. Each Unit consists of one share (a "Share") of the Company and one-half of one warrant (a "Warrant"). Each whole Warrant will be exercisable to acquire one additional Share for a period of 18 months until March 5, 2010 at an exercise price of $0.45.

No finder's fee or commissions were paid in connection with the non-brokered private placement. All securities issued pursuant to the non-brokered private placement bear a four month hold period expiring on January 6, 2009.

The cumulative sum raised amounts to $1,080,000 pursuant to the first and second tranches of the non-brokered private placement.

About Nortec Ventures Corp.

Nortec Ventures Corp. is a Canadian public mineral exploration company focused on the exploration and development of the Kaukua Platinum - Palladium - Gold (PGE + Au) - Nickel and Copper project located in Finland, the Kingurutik and TL Nickel-Copper-Cobalt projects in Labrador, Canada and the Ganarin and Condorcocha projects in Ecuador. The Company has a very experienced mineral exploration and management team with the combined expertise to successfully advance the exploration and development of both precious and base metal projects.

On behalf of the Board of Directors,

NORTEC VENTURES CORP.

Mohan R. Vulimiri, President & CEO

This press release does not constitute an offer to sell, or a solicitation of an offer to sell, any of the foregoing securities in the United States. None of the foregoing securities have been and, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

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

Contact Information

  • Nortec Ventures Corp.
    Mohan R. Vulimiri
    President & CEO
    (604) 717-6426
    (604) 717-6427 (FAX)
    Email: info@nortecventures.com