|By Marketwired .||
|March 7, 2014 05:00 PM EST||
GATINEAU, QUEBEC -- (Marketwired) -- 03/07/14 -- Nouveau Monde Mining Enterprises Inc. (TSX VENTURE:NOU) ("Nouveau Monde" or the "Corporation") is pleased to announce that the Corporation has closed a private placement with Global Resources Investment Ltd. ("GRIT"), pursuant to which Nouveau Monde will issue 3,000,000 common shares of its share capital in exchange for 348,529 ordinary shares of GRIT's share capital, for a transaction value of CAN$630,000. The details of this private placement appear in a press release issued by Nouveau Monde on February 5, 2014.
Acquisition of Mining Claims in the sector of the graphite property Matawinie
During fall 2013, following exceptional exploration outcomes on Nouveau Monde's Matawinie graphite properties, Nouveau Monde entered into an exploration agreement with 3457265 Canada Inc. ("3457265"), owner of the geophysical surveying provider, Prospectair Geosurveys. Under the terms of this agreement, 3457265 performed a regional airborne survey covering a total area of 4000 km2, according to instructions given by Nouveau Monde's technical staff. Based on the results of the survey, 3457265 acquired 4 blocks of claims (the "Mining Claims. The Mining Claims cover a total of over 25 linear kilometres of conductive material with similar geophysical signatures to the Ti-Nou graphite deposits within the Matawinie property").
In exchange for this technical support, 3457265 Canada inc. granted Nouveau Monde an exclusive and irrevocable option to acquire 100% interest in the Mining Claims under the following terms:
-- Reimbursement of the airborne survey costs and costs related to the claim acquisition ($317,700) by way of a share issuance at a predetermined price of $0.25 per share, subject to approval of the option agreement by the TSX Venture Exchange (the "Exchange"); -- Delivery of a total of $300,000 in exploration work over the next 24 months, $100,000 of which is to be provided in the first 12 months and $200,000 in the following 12 months;
On successful completion of these terms of the Agreement, Nouveau Monde assumes 100% ownership of the Mining Claims subject to a 2% NSR Royalty held by 345726. Nouveau Monde can buy back the NSR Royalty for $1,000,0000 for each 1%
Moreover, were Nouveau Monde ever to file a positive preliminary feasibility study or/and a feasibility study, Nouveau Monde undertakes, upon each such filing, to either issue 1,000,000 common shares of its share capital to 3457265, or to pay 3457265 $1,000,000, at Nouveau Monde's sole discretion.
Grant of Stock Options
The Corporation announced today that a total of 500,000 stock options were granted to its consultants at a price of $0.20 per common share for a period of five years from the grant date. Of this number, one quarter will vest in each of four consecutive three-month periods, ending on March 3, 2015. These stock options are governed by the Stock Option Plan of the Corporation as currently in force.
Shares that may be subscribed upon the exercise of these options will be subject to a hold period of four months and one day from the date of issue.
About Nouveau Monde
Nouveau Monde is a mining exploration company holding a large portfolio of base and precious metals and industrial minerals in the province of Quebec. Our business model is based on the generation of projects in new underexplored territories using the most advanced remote sensing and geophysical tools available in the industry. Our expertise with these modern tools allows us to save on exploration cost leading to much efficient area coverage to maximize discovery chances. Our company is looking to develop its prospects in partnership with the objectives to expose our shareholders to a multitude of possibilities.
Neither TSX Venture nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties, including without limitation, statements pertaining to the share exchange including Nouveau Monde's ability to obtain necessary approvals from the TSX Venture Exchange. Actual results may differ materially. Nouveau Monde will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Nouveau Monde.
Eric Desaulniers, MSc, Geo
President and Chief Executive Officer of Nouveau Monde
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