Novadx Ventures Corp.
TSX VENTURE : NDX

Novadx Ventures Corp.

February 05, 2010 15:42 ET

Novadx and MCoal Amend MCoal Debenture Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 5, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES.

Novadx Ventures Corp ("Novadx") (TSX VENTURE:NDX) announced today that Novadx and Canaccord Financial have agreed to amend the terms of the brokered offering (the "Offering") of a minimum of 25,200 to a maximum of 30,000 secured, redeemable debentures (the "Debentures") to be issued by MCoal, Novadx's wholly-owned subsidiary, first announced on January 22, 2010.

The Debentures, which were originally to be issued at an offering price of US $100 per Debenture for gross proceeds of a minimum of US$2,520,000 to a maximum of US$3,000,000, will now be offered at an offering price of CDN $100 per Debenture for gross proceeds of a minimum of CDN$2,520,000 to a maximum of CDN$3,000,000. All other terms of the offering will remain unchanged. For complete details of the proposed offering, please refer to Novadx's January 22, 2010 press release.

About MCoal: MCoal Corporation, a wholly owned subsidiary of Novadx Ventures Corp., has been actively acquiring surface and mineral interests that cover the Rosa Coal deposit. The Rosa Coal Project is a metallurgical coal mine project located in Blount County in Northern Alabama, approximately 40 miles from the City of Birmingham, which is the location of two existing coking plants that have historically used the Rosa Coal in their operations.

About Novadx: Novadx is a Vancouver-based Investment Company whose primary focus is on providing merchant banking services to natural resource companies. Novadx structures and makes direct equity investments as a principal and provides management and other related services to companies in specific resource sectors, such as MCoal Corporation, a subsidiary company currently permitting a metallurgical coal mine in the State of Alabama, USA. For more information please visit www.novadx.com.

ON BEHALF OF THE BOARD

Neil MacDonald, President and CEO and Director

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

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. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information