NRM Noram Lithium Corp

Noram Ventures Inc. (TSX VENTURE:NRM) ("Noram" or the "Company") is pleased to
report that the non-brokered private placement (the "Offering") financing
announced October 17, 2012 has been closed to raise gross proceeds of $127,500
through the sale of 300,000 flow-through share units (the "FT Unit") and 337,500
common share units (the "Units). 


The FT Units were offered at a price of $0.20 and consist of one flow-through
share and one non-transferable common share purchase warrant, with each warrant
entitling the holder to purchase one additional common share at a price of $0.25
until October 30, 2014. The Units were offered at a price of $0.20 and consist
of one common share and one non-transferable common share purchase warrant, with
each warrant entitling the holder to purchase one additional common share at a
price of $0.25 until October 30, 2014. 


All of the warrants will be subject to an acceleration provision allowing the
Company to accelerate the expiry of the warrants if the Company's shares trade
above $0.50 for ten (10) consecutive days. In that event, the Warrants will
expire 30 days after the Company has given notice of the accelerated conversion
to the Warrant holders. 


The net proceeds from the Offering will be used to finance the Company's
exploration programs and for general working capital purposes.  


All securities issued in connection with this Offering are subject to a
four-month hold period in accordance with securities regulation, until March 3,
2013. 


Insiders of the Company acquired a total of 250,000 Units in the Private
Placement (the "Insider Participation"). The Insider Participation is exempt
from the valuation and minority shareholder approval requirements of
Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions
contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair
market value of such Insider Participation did not exceed 25% of the Company's
market capitalization.


About Noram Ventures Inc.: 

Noram Ventures Inc. (TSX VENTURE:NRM) is a Canadian based mineral exploration
company with a project generator business model. The Company's strategy is to
identify and acquire both early stage and drill ready exploration properties,
and add value through the initial drilling and discovery phase. Noram's current
focus is on three properties in the Central Kootenay region of southeastern
British Columbia. For further information, please visit www.noramventures.com.


ON BEHALF OF THE BOARD OF DIRECTORS

David W. Rees, President & Director 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements in this release are forward-looking statements, which reflect
the expectations of management regarding exploration work on the properties and
the completion of the Offering. Forward-looking statements consist of statements
that are not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such statements are
subject to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the statements. No
assurance can be given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the Company will
obtain from them. These forward-looking statements reflect management's current
views and are based on certain expectations, estimates and assumptions which may
prove to be incorrect. A number of risks and uncertainties could cause our
actual results to differ materially from those expressed or implied by the
forward-looking statements, including: (1) a downturn in general economic
conditions in North America and internationally, (2) the inherent uncertainties
and speculative nature associated with mineral exploration, (3) a decreased
demand for minerals, (4) any number of events or causes which may delay or cease
exploration and development of the Company's property interests, (5) the risk
that the Company does not execute its business plan, (6) inability to finance
operations and growth, and (7) other factors beyond the Company's control. These
forward-looking statements are made as of the date of this news release and,
except as required by law, the Company assumes no obligation to update these
forward-looking statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lytle & Associates
Greg Lytle
(604) 839-6946
lytleg@shaw.ca

Noram Lithium (TSXV:NRM)
Historical Stock Chart
From May 2024 to Jun 2024

Noram Lithium (TSXV:NRM)
Historical Stock Chart
From Jun 2023 to Jun 2024