NovX21 Provides Correction to Press Release Regarding Private Placement

- April 13th, 2015

NovX21 (TSXV:NOV) made a correction regarding the participation of existing shareholders in a private placement as described in its previous press release. Net proceeds of the financing will be used for the financing of a new commercial plant for the recovery of platinum group metals and for general corporate purposes.

NovX21 (TSXV:NOV) made a correction regarding the participation of existing shareholders in a private placement as described in its previous press release. Net proceeds of the financing will be used for the financing of a new commercial plant for the recovery of platinum group metals and for general corporate purposes.

As quoted in the press release:

Existing shareholders of NovX21 are invited to participate in an ancillary private placement of NovX21 (the “Ancillary Private Placement to Shareholders” and, together with the Private Placement, the “Offering”) consisting of Units. Each Unit is composed of 10,000 common shares priced at $0.10 per share and10,000 warrants to purchase common shares of the Corporation at $0.20 each for a 36-month period. The warrants will be subject to an accelerator clause by which the warrant expiry date can be shortened at the Corporation’s discretion if the closing share price on the Exchange is $0.25 or higher for a period of more than 20 consecutive trading days, in which case the new expiry date would be the thirtieth day following formal written notification by the Corporation. Such notification cannot be issued during the first four months following the closing of this placement, which corresponds to the regulatory hold period applicable to all private placements.
Existing shareholders of NovX21 who wish to participate in the Ancillary Private Placement to Shareholders are encouraged to contact the Jones Gable, by email at pbernard@jonesgable.com for additional information.

The net proceeds from the Offering will be used to complete the financing of a new commercial plant for the recovery of precious metals of the Platinum Group (Platinum, Palladium and Rhodium or PGMs) in Thetford Mines, Quebec, as well as for general corporate purposes.

Only shareholders of the Corporation who, as of the share register record date of April 7, 2015 held Common Shares of the Corporation and continue to hold Common Shares at the time of closing may participate in the Ancillary Private Placement to Shareholders. The aggregate subscription cost to an existing shareholder for the Units subscribed under the Ancillary Private Placement to Shareholders cannot exceed $15,000, unless such shareholder has obtained advice regarding the suitability of the investment from a registered investment dealer.

Existing shareholders who are residents of the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Québec, New Brunswick, Nova Scotia, Prince Edward Island, Yukon, Northwest Territories and Nunavut may participate in the Ancillary Private Placement to Shareholders and existing shareholders resident in countries other than Canada will need to meet local jurisdiction requirements to participate. Shareholders resident in Ontario and Newfoundland and Labrador are not permitted to participate in the Ancillary Private Placement to Shareholders.

Click here to read the NovX21 (TSXV:NOV) press release
Click here to see the NovX21 (TSXV:NOV) profile.

Leave a Reply