|By Marketwired .||
|February 5, 2014 10:00 AM EST|
GATINEAU, QUEBEC -- (Marketwired) -- 02/05/14 -- Nouveau Monde Mining Enterprises Inc. (TSX VENTURE: NOU) ("Nouveau Monde" or the "Corporation") is pleased to announce that the Corporation has entered into a share exchange agreement with Global Resources Investment Ltd. ("GRIT") pursuant to which Nouveau Monde will acquire 348,579 ordinary shares of GRIT valued at 1 British Pound per share in exchange for 3,000,000 common shares of Nouveau Monde valued at 0,21$CAN per share (the "Common Shares") for a transaction value of 630,000$CAN. Nouveau Monde is expected to sell, if deemed necessary by the board of directors of Nouveau Monde, the GRIT's ordinary shares on the London Stock Exchange for cash to finance its exploration activities and to fund its working capital.
The GRIT'S ordinary shares are expected to be listed on the London Stock Exchange's main market in connection with GRIT's re-registration as a public company which will be constituted as a UK Investment Trust with the name "Global Resources Investment Trust Plc. Concurrent with the closing of the share exchange with Nouveau Monde, GRIT is conducting a number of share exchanges with Canadian listed companies pursuant to which GRIT shall acquire shares of various investee companies in return for the issuance of GRIT ordinary shares.
GRIT is a new investment trust established based in London, England which seeks to exploit investment opportunities in the junior mining and natural resource sectors. GRIT's investment objective is to generate medium and long-term capital growth through investing in a diverse portfolio of primarily small and mid-capitalisation natural resources and mining companies, which are listed nor quoted on an exchange.
GRIT obtained relief from the prospectus requirement from the Autorites des marches financiers with respect to the initial distribution of 348,579 ordinary shares in favor of Nouveau Monde as consideration for the issuance of 3,000,000 Nouveau Monde's Common Shares. The closing of the share exchange is subject to a number of conditions including the approval of the TSX Venture Exchange and GRIT successfully listing on the London Stock Exchange. Finder's fees representing 8% of the transaction value may be payable in shares with respect to the share exchange agreement, in accordance with TSX Venture Exchange policies.
The securities issued under the Private Placements have not been registered under the United States Securities Act of 1933 (the "Act") or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption there from
About Nouveau Monde
Nouveau Monde is a mining exploration company holding a large portfolio of base and precious metals and industrial minerals in the province of Quebec. Our business model is based on the generation of projects in new underexplored territories using the most advanced remote sensing and geophysical tools available in the industry. Our expertise with these modern tools allows us to save on exploration cost leading to much efficient area coverage to maximize discovery chances. Our company is looking to develop its prospects in partnership with the objectives to expose our shareholders to a multitude of possibilities.
Neither TSX Venture nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties, including without limitation, statements pertaining to the share exchange including Nouveau Monde's ability to obtain necessary approvals from the TSX Venture Exchange. Actual results may differ materially. Nouveau Monde will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Nouveau Monde.
Eric Desaulniers, MSc, Geo
President and Chief Executive Officer of Nouveau Monde