Nass Valley Gateway Ltd. Issues Bonus Warrants
26.07.2014 | CNW
RICHMOND, July 25, 2014 - Nass Valley Gateway Ltd. (the "Company" or "Nass Valley") announces that it will issue 1,363,042 bonus warrants ("Warrants") to Merfin Management Limited ("MerFin") in consideration for the $227,173.62 in financing of high risk loans and loan extensions it has provided the Company since October 2012. Each Warrant shall entitle the holder thereof to purchase one common share at an exercise price of $0.10 for a period of five years from the date of issuance. The loans were provided to the Company for general working capital in order to meet its minimum administrative obligations including consulting fees and required fees to regulatory bodies. The Warrants are subject to a four-month hold period pursuant to securities legislation and the policies of the CSE, commencing on the date of issuance. If the warrants are exercised prior to the expiration of the hold period, the shares issued upon exercise will be subject to the remaining portion of the hold period.The loan is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). This transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is in serious financial difficulty, the loans and extensions are designed to improve the financial position of the Company, and at least two-thirds of the Company's Directors, acting in good faith, have determined the loans are reasonable in the circumstances of the Company.
ABOUT NASS VALLEY GATEWAY LTD.
Since 2011, Nass Valley is focused on developing, marketing and establishing environmentally responsible Energy Converting and Waste Disposal Technology, through its subsidiary, Global Environomic Systems Corp. ("GSC") and multiwave technology through its subsidiary, M-Wave EnviroTech Inc. and views both of its environmentally responsible technologies as unique Systems.
Nass Valley Gateway and its subsidiaries are devoted to building value for their shareholders and employees, contributing to the improvement of the communities in which they operate through employment creation, and implementing sustainable practices designed to preserve and enhance our environment.
The CSE has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
Trading Symbols
CNSX: NVG
Deutsche Borse, Frankfurt: 3NVN
Germany: WKN A1JVHM / ISIN CA6315202029
Website: www.nassvalleygateway.com
Contact
Nass Valley Gateway Ltd.
Dieter Peter, President & CEO
Phone: 604-278-1132