Nomad Ventures Inc. (the “Company”) is pleased to announce that it has closed its previously announced private placement (see news release on April 23, 2015 and April 28, 2015) by issuing 2,000,000 units at a price of $0.05 per share for gross proceeds of up to $100,000.
Each unit consists of one common share in the capital of the Company and one share purchase warrant entitling the holder to acquire one additional common share of the Company, exercisable for a period of five years following the closing date of the private placement. The exercise price of each of the share purchase warrants will be $0.05 during the five year term of the warrants.
Finder’s fees totaling $3,750 and 75,000 finder’s warrants will be paid with respect to the private placement. Each finder’s warrant will be on the same terms as the warrants issued under the private placement.
The shares and any shares acquired upon the exercise of the warrants are subject to a 4 month hold period expiring on September 5, 2015.
The gross proceeds of the private placement will be used in part for general working capital and installation of the Company’s previously purchased 120-ton, 75-foot barge loading ramp located at the St. Vincent Bay aggregate property.