Nortec Minerals Commences Incorporation of 100 Percent Owned Subsidiary in Ecuador

Nortec Minerals (TSXV:NVT) announced that it has initiated the process of incorporating Normiecu S.A, a wholly-owned Ecuadorian subsidiary of Nortec.
As quoted in the press release:

 This subsidiary facilitates the acquisition and exploration of advanced mineral properties / projects in Ecuador.  The Company announced the appointment of Mr. Carlos Jaramillo of Ecuador to the Board of Directors of Nortec.
Stock Options
The Company also announces the issuance of 2,000,000 incentive share purchase stock options to directors, consultants and advisors.  Each option has an exercise price of $0.06 and is exercisable at any time prior to October 17, 2018, subject to the terms and conditions of the Company’s Employee Stock Option Plan.
Private Placement
The Company is arranging a non-brokered private placement of up to 10,000,000 units (the “Units”) at a price of $0.05 per Unit to raise total gross proceeds of up to $500,000.  Each Unit will consist of one common share of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”).  Each wholeWarrant will be exercisable to acquire one additional Share for a period of two (2) years from the closing of the Private Placement at an exercise price of $0.10 per share.

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