TORONTO, Sept. 23, 2020 /CNW/ - Nubian Resources Ltd.
("Nubian" or the "Company") (TSXV: NBR) is pleased to announce that
the Company has finalized the formation of Blackwood Prospecting
Pty Ltd. ("Blackwood"), a wholly-owned subsidiary, which will hold
Nubian's recently acquired Australian properties (see press
releases of May 28th and
July 15th, 2020).
The directors and officers appointed by Nubian include Martin Walter, President and CEO of Nubian, who
has been appointed Director and President of Blackwood,
Michael Melamed, who has an
accounting, finance and public company financial reporting
background who has been appointed Director and Financial Controller
and Brendan Bell, a local Australian
businessman based in Bendigo who has been appointed Director and
Secretary. With the formation of this subsidiary, the
Company anticipates near term completion of the acquisitions of the
highly prospective Fosterville East Project and the advanced-stage
Yandoit Gold Project both well positioned in the Victoria Gold
Fields of Australia as well as the
Lefroy and Mathinna Gold Projects
located in Tasmania.
In other news, the Company announces that, subject to regulatory
approval, it has retained Mackie Research Capital Corporation
("Mackie") to provide market stabilization and liquidity services
to Nubian in compliance with the policies and guidelines of the
TSXV. Mackie will trade the shares of the Company on
the TSXV for the purposes of maintaining a reasonable market and
improving liquidity in the Company's shares. Nubian has
agreed to pay Mackie $4,000 per month
during the term, payable in advance and the agreement can be
terminated with 30 days' notice. The agreement is not a
formal market making agreement, there are no performance factors
contained in the agreement and Mackie will not receive any shares
or options from the Company as compensation for services under the
agreement.
The Company also reports that it has granted, pursuant to its
stock option plan, to directors and consultants an aggregate of
100,000 stock options exercisable at $0.60 for a period of five years in respect of
50,000 options and two years in respect to the other 50,000
options.
About Nubian Resources
Nubian Resources Ltd. is a public traded precious and base
metals exploration company listed on the TSX Venture Exchange. The
Company is managed by a team of experienced mining and geological
professionals. In May 2020, Nubian
entered into an agreement to acquire and develop the Yandoit Gold
Project in central Victoria,
Australia and in July 2020,
Nubian entered into an agreement to acquire Stavely Mineral
Limited's Fosterville East project and its Lefroy and Mathinna projects in Tasmania. Nubian's main asset is the
Esquilache Silver Project located within the Tintaya porphyry
copper belt of southern Peru.
Neither 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.
Caution Regarding Forward Looking Statements
Certain
statements contained in this press release constitute
forward-looking information. These statements relate to future
events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on Nubian's current belief or assumptions
as to the outcome and timing of such future events. Actual future
results may differ materially. Various assumptions or factors are
typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those
assumptions and factors are based on information currently
available to Nubian. Although such statements are based on
reasonable assumptions of Nubian's management, there can be no
assurance that any conclusions or forecasts will prove to be
accurate. While Nubian considers these assumptions to be
reasonable based on information currently available to them, they
may prove to be incorrect. Forward looking information
involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such factors include risks inherent in the exploration
and development of mineral deposits, including risks relating to
changes in project parameters as plans continue to be redefined,
risks relating to variations in grade or recovery rates, risks
relating to changes in mineral prices and the worldwide demand for
and supply of minerals, risks related to the COVID-19
pandemic and current global financial conditions, increased
competition, access and supply risks, reliance on key personnel,
operational risks, regulatory risks, including risks relating to
obtaining necessary licenses and permits, financing, capitalization
and liquidity risks, title and environmental risks and risks
relating to delay or failure to satisfy the closing conditions
relating to Company's acquisitions in Australia.
The forward-looking information contained in this release is
made as of the date hereof, and Nubian is not obligated to update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by
applicable securities laws.
Because of the risks, uncertainties and assumptions contained
herein, investors should not place undue reliance on
forward-looking information. The foregoing statements expressly
qualify any forward-looking information contained herein.
SOURCE Nubian Resources Ltd.