Novadx Ventures Corp.
TSX VENTURE : NDX

Novadx Ventures Corp.

February 26, 2008 19:29 ET

NovaDX Issues Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2008) - NovaDX Ventures Corp ("NovaDX") (TSX VENTURE:NDX) -

NovaDX Ventures Corp., President & CEO, Neil MacDonald, reports:

NovaDX Ventures Corp. ("NovaDX") today announced that, subject to regulatory approval, it intends to issue to certain Officers, Directors and employees of the Company, as part of a compensation bonus, up to 405,411 shares at a deemed price of $0.37 per share. The shares will be subject to a hold period of four months from the date of issuance.

NovaDX President & CEO Neil MacDonald said that the proposed share issuance was part of a total bonus package having a deemed value of $300,000 that was formally approved by the NovaDX Compensation Committee in recognition of the very strong results attained by the Company's business operations for the 12-month period ending December 31, 2007.

"Our Company achieved some very remarkable results in our first full year of operation, which essentially covered the 12-month period of calendar 2007," said MacDonald.

"During the 12 month period ending December 31, 2007 our net assets per share increased by over 40%, growing from $0.21 per share to $0.30 per share. We earned $0.17 per share in net income during the same period, and our share price increased from $0.28 to $0.40. As a result, we are very pleased to award our key personnel this compensation package, consisting of a combination of cash payments and NovaDX shares, to reward them for this performance and to continue to retain and motivate this high-quality group of professionals."

About NovaDX: NovaDX is a Vancouver-based investment firm whose primary focus is on providing merchant banking and other business advisory services to micro-cap natural resource issuers, a largely overlooked but important sector of the equity markets. NovaDX's business plan involves seeking out investment opportunities in companies that have quality management and projects that demonstrate an above average opportunity for new resource discoveries. NovaDX works closely with management of these companies with the objective of mitigating risk and enhancing the value of its investments. NovaDX intends to pursue opportunities in North America and abroad. NovaDX seeks a return on its investments supplemented with revenue from investment banking, investment fund administration and advisory services. For more information please visit www.novadx.com.

ON BEHALF OF THE BOARD

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.

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

  • NovaDX Ventures Corp.
    Neil MacDonald
    (604) 633-2776
    or
    NovaDX Ventures Corp.
    Rick Peterson
    (604) 633-2776
    or
    NovaDX Ventures Corp.
    Adam Ho
    (604) 633-2776
    (604) 683-6564 (FAX)
    Email: info@novadx.com
    Website: www.novadx.com