LAVAL, QUEBEC--(Marketwired - July 9, 2013) - NQ Exploration Inc. ("NQ") (TSX VENTURE:NQE) is pleased to announce that it has arrived at a settlement of its debt with Société de développement de la Baie-James ('"SDBJ"), subject to TSX Venture Exchange approval.
NQ will issue 239,342 common shares at a deemed price of $0.05 per share to SDBJ, representing the $11,967.12 in interest due as of June 29, 2013, pursuant to the private placement of a $200,000 unsecured convertible debenture to SDBJ on December 29, 2011. The debenture bears interest at the rate of 12% per annum, payable semi-annually either in cash or in shares.
NQ also announced that the convertible debenture have been extended until December 29, 2014. All the other terms of debenture remain unchanged.
ABOUT NQ EXPLORATION INC.
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.