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NQ Exploration Inc.: Settlement of Debt with Societe de Developpement de la Baie-James

Jan 8 2013 12:00AM

Marketwire

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LAVAL, QUEBEC -- (Marketwire) -- 01/08/13 -- NQ Exploration Inc. ("NQ") (TSX VENTURE: NQE) is pleased to announce that it has arrived at a settlement of its debt with Societe de developpement de la Baie-James ('"SDBJ"), subject to TSX Venture Exchange approval.

NQ will issue 240,000 common shares at a deemed price of $0.05 per share to Societe de developpement de la Baie-James ('"SDBJ"), representing the $12,000 in interest due as of December 29, 2012, pursuant to the private placement of a $200,000 unsecured convertible debenture to SDBJ on December 29, 2011. The debenture bears interest at the rate of 12% per annum, payable semi-annually either in cash or in shares.

The Company wishes to settle this interest in full through the issuance of 240,000 common shares at a price of $0.05 per share.

ABOUT NQ EXPLORATION INC.

NQ Exploration Inc. is a mining exploration company with a solid portfolio of mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
David Grondin
President and Chief Executive Officer
Telephone: (514) 206-7727
www.explorationnq.com





Source: Marketwire


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