Nortec Minerals Corp. announces Management Change
01.02.2017 | The Newswire
Vancouver, February 1, 2017 - Nortec Minerals Corp.. (TSX-V: NVT; OTC-PK: NMNZF) (the "Company" or "Nortec") - Nortec, a Canadian public company listed on the TSX Venture Exchange announces the appointment of Michael Malana as Chief Financial Officer.Mr. Malana, CPA, CMA has extensive experience in administration, accounting and reporting for several public companies. He is currently the CFO of Patriot One Technologies Inc. (TSXV:PAT) where he was instrumental in completing a recent reverse takeover. As CFO and Corporate Secretary of Apivio Systems Inc., (TSXV:APV), he was responsible for Apivio's transition from a private to a public company. As CFO of Sunward Resources Ltd. (TSX:SWD), he was involved in its transition from the TSX Venture Exchange to the TSX. Prior to that Mr. Malana was the Corporate Controller of Jinshan Gold Mines (now listed on the TSX as China National Gold) when it transitioned from exploration, to development to production. He was also involved in Jinshan's early adoption of IFRS and their secondary listing on the Hong Kong Stock Exchange.
Nortec is pleased to welcome Mr. Malana to Nortec's management. His broad range of experiences ensures financial control as the company advances both its current and additional projects in the future.
Stock Options
The Company also announces the issuance of 3,000,000 incentive share purchase stock options to employees, consultants, advisors and directors. Each option has an exercise price of $0.08 and is exercisable at any time prior to February 1, 2019, subject to the terms and conditions of the Company's Stock Option Plan.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has a 100% interest in the Tammela Gold & Lithium Project in South-West Finland. Avalon Minerals of Australia has a 51% Stage 1 earn in and an 80% Stage 2 earn-in joint venture on the Tammela Project. Avalon has completed more than 3,000 meters diamond drilling on the Kietyonmaki lithium prospect and the Satulinmaki and Riukka prospects that comprise the Tammela Project. The results were announced in the Company's press releases dated 15th September, 23rd September and 22nd November, 2016. The results can also be referred to in Avalon Minerals website: http://avalonminerals.com.au/. The positive results from Avalon's drilling, together with the historical drilling results of the Finnish Geological Survey, exhibit a large gold system. Avalon's drilling also confirmed the presence significant Lithium mineralization with values as high as 24m at 1.44% Li2O.
The Company recently signed a Letter of Intent with The Golden Rule Limited to acquire 80% of its major gold properties in Guinea, West Africa. Information on the planned exploration programs and all Company projects have been posted on the Company's website www.nortecminerals.com.
On behalf of the Board of Directors, Nortec Minerals Corp.
"Mohan R. Vulimiri"
Mohan R. Vulimiri, CEO and Chairman
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performances or achievements of the Company to be materially different from the results, performances or expectations implied by these forward looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
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