NQ Exploration Inc.
TSX VENTURE : NQE

NQ Exploration Inc.

December 30, 2010 15:53 ET

NQ Exploration Closes Private Placements for $190,000

LAVAL, QUEBEC--(Marketwire - Dec. 30, 2010) - NQ Exploration Inc. (TSX VENTURE:NQE) is pleased to announce that it has closed non-brokered private placements for a total of $190,000. Details are as follows:

Private placement of flow-through share units

Exploration NQ Inc. is pleased to announce that it has closed on the sale of 305,555 flow-through shares at $0.18 per share for gross proceeds of $55,000.

Private placement of common shares

Exploration NQ Inc. is pleased to announce that it has closed on the sale of 1,350,000 common share units priced at $0.10 per unit for gross proceeds of $135,000. Each unit consists of one common share and one warrant entitling its holder to purchase one common share of the Company for $0.12 for a period of 24 months.

No member of the pro group and one insider of the Company participated in the private placement.

All the securities issued pursuant to the private placements are subject to a mandatory hold period of four months following the closing date.

The Company will use the proceeds of the private placements for working capital purposes and for exploration expenditures on its current projects.

ABOUT NQ EXPLORATION INC.

NQ Exploration Inc. is a mining exploration company with a solid portfolio of 15 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.

Contact Information

  • NQ Exploration Inc.
    David Grondin
    President and Chief Executive Officer
    514-206-7727
    www.explorationnq.com