NQ Exploration Inc.

NQ Exploration Inc.

August 14, 2013 14:36 ET

NQ Exploration Announces Private Placement

LAVAL, QUEBEC--(Marketwired - Aug. 14, 2013) - NQ Exploration Inc. (the "Corporation") (TSX VENTURE:NQE) announces its intention to conduct a non-brokered private placement of a minimum of 67 units ($100,500) and a maximum of 200 units ($300,000).

Each unit, offered at a price of $1,500 per unit, consists of 100,000 common shares at a price of $0.015 per share and 50,000 warrants, each warrant entitling the holder to subscribe for one (1) common share of the Corporation at a price of $0.05 for a period of 24 months.

The private placement is made in connection with the temporary relief measures from certain pricing requirements outlined in the bulletins of the TSX Venture Exchange dated April 12, 2013 and August 7, 2013, and is therefore subject to its approval. With the exception of a maximum amount of $50,000, (a) the proceeds of the private placement will be used to the maintenance or preservation of existing assets and operations of the Corporation, and (b) none of the proceeds of the private placement will be used to compensate, settle indebtedness with or otherwise satisfy obligations to related parties of the Corporation. If more than an aggregate of $200,000 is to be raised from related parties of the Corporation, at least 75% of any additional amounts must be subscribed for by persons that are not related parties of the Corporation. The subscribed securities will be subject to a hold period of four months and one day.


NQ Exploration Inc. is a mining exploration company with a solid portfolio of mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.

Neither the 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.

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