Nevado Signs With Aberdeen Gould Capital Markets Ltd., for $3,600,000 Flow Through, Super Flow Through and Hard Dollar Financing
December 13 2010 - 6:00AM
Marketwired
NEVADO RESOURCES CORPORATION (TSX VENTURE: VDO)(FRANKFURT: NSV)
(the "Company" or "NEVADO") announces that it has hired ABERDEEN
GOULD CAPITAL MARKETS LTD. (the "Finders") to be their exclusive
lead financier for a non-brokered private placement on commercially
reasonable efforts to raise gross proceeds of $3,600,000. The
placement is expected to close on or about December 23, 2010. The
targeted allocation dollar amounts for the Offering are $1,500,000
in Flow-Through, $600,000 in Super Flow-Through and $1,500,000 in
Non Flow-Through Units.
Flow-Through Units, at a subscription price of $0.35, will
consist of one (1) common share ("Common Share") on a Flow-Through
basis and one-half (1/2) of a common share purchase warrant ("FT
Warrant") (collectively, the Common Shares and FT Warrants are
known as the "Flow-Through Units"). Each whole FT Warrant will
enable the holder thereof to subscribe for one (1) Non-flow-through
Common Share at $0.50 any time until the date that is twenty four
(24) months from the Closing Date (the "Expiry Date"). Any FT
Warrants not exercised prior to 5:00 p.m. (Eastern Standard Time)
on the Expiry Date will be cancelled and be of no force or
effect.
Super Flow-Through Units, at a subscription price of $0.35 per
unit, will consist of one (1) common share ("Common Share"), on
which 0.8 Flow-Through share and 0.2 Non Flow-Through share, and
one-half (1/2) of a common share purchase warrant ("SFT Warrant")
(collectively, the Common Shares and SFT Warrants are known as the
"Super Flow-Through Units"). Each whole SFT Warrant will enable the
holder thereof to subscribe for one (1) Non-flow-through Common
Share at $0.50 any time until the date that is twenty four (24)
months from the Closing Date (the "Expiry Date"). Any SFT Warrants
not exercised prior to 5:00 p.m. (Eastern Standard Time) on the
Expiry Date will be cancelled and be of no force or effect.
Non Flow-Through Units, at a subscription price of $0.30 per
unit, will consist of one (1) common share (the "Common Share") and
one (1) common share purchase warrant ("NFT Warrant")
(collectively, the Common Shares and NFT Warrants are known as the
"Non Flow-Through Units"). Each NFT Warrant will enable the holder
thereof to subscribe for one (1) Non-flow-through Common Share at
$0.45 any time until the date that is twenty four (24) months from
the Closing Date (the "Expiry Date"). Any NFT Warrants not
exercised prior to 5:00 p.m. (Eastern Standard Time) on the Expiry
Date will be cancelled and be of no force or effect.
The Offering will be made in Canada to Accredited Investors (as
defined under National Instrument 45-106 - Prospectus and
Registration Exemptions) or pursuant to other applicable prospectus
and registration exemptions, or to such other qualified persons in
such other jurisdictions (subject to compliance with all applicable
securities laws).
Funds will be spent to advance the Company's higher grade Iron,
Titanium and Vanadium La Blache Property located just north of the
port of Baie-Comeau (Quebec) on the St. Lawrence Seaway, and also
as general working capital.
The Company shall pay the Finders a cash fee equal to 8% of the
gross proceeds raised pursuant to the Offering in respect of Units
issued and sold upon Closing. The Company shall also issue Finder
warrant units (the "Compensation Units") equal to 8% of the number
of Units issued and sold, which will be at the same purchase price
and terms as the Offered Securities at Close.
About Nevado Resources Corporation
Nevado Resources Corporation is a mineral exploration company
listed under the symbol VDO on the TSX Venture Exchange and under
the symbol NSV on the Frankfurt Exchange. Nevado owns 6 properties
comprising 1,390 mining claims totalling 757 km2 in the Province of
Quebec in two separate metallogenic environments, one in high grade
iron-titanium-vanadium and one in gold.
NEVADO's higher grade Iron-Titanium-Vanadium
(magnetite-ilmenite) property comprises 2 claim blocks totalling
773 claims for 315 km2 situated in the La Blache Anorthositic
Complex, located 145 km north of the city of Baie-Comeau and its
port on the St. Lawrence Seaway. In 2011, NEVADO plans to quickly
advance the property to the drilling stage for NI 43-101 compliant
mineral resource delineation.
NEVADO's gold assets comprise 5 properties totalling 442 km2
located 10 km south and southeast of Thetford Mines (Eastern
Townships, Quebec), approximately 150 km east of Montreal.
About Aberdeen Gould Capital Markets Ltd.
Aberdeen Gould Capital Markets Ltd., is an independent financial
investment firm that offers Investment Banking, Corporate Advisory
and Equity Capital Markets services to small and mid-market
companies. They focus on private and public companies in the
Manufacturing, Resource, and Technology sectors. The firm is
registered in the Canadian Provinces of Alberta, British Columbia,
Ontario, Saskatchewan and Quebec as an Exempt Market Dealer. Their
web page is www.aberdeengould.com.
The statements made in this news release that are not historical
facts are "forward-looking statements" and readers are cautioned
that any such statements are not guarantees of future performance,
and that actual developments or results, may vary materially from
those in these "forward-looking" statements.
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 news release.
Contacts: Nevado Resources Corporation Mr. Guy Girard President
and CEO 514-798-1290 www.nevado.ca
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