News Column


June 9, 2014

ENP Newswire - 09 June 2014

Release date- 06062014 - Vancouver, British Columbia - Nomad Ventures Inc. (TSX-V: NMD) is pleased to announce that it has entered into an amended and restated option agreement amending and restating the terms of the option agreement with St. Vincent's Bay Log Sort Inc. whereby SVB has granted Nomad the right to acquire a 100% interest in the St. Vincent Bay Property located in St. Vincent Bay, Powell River, British Columbia.

In particular, the amended Agreement reduces the initial cash payments and grant a royalty to SVB during the term of the Agreement. The Property is currently registered under the Land Titles Act (British Columbia) and Nomad plans, subject to obtaining financing and TSX Venture Exchange approval, to focus on the exploration of natural aggregate deposits on the Property.

Under the terms of the Agreement, Nomad will be able to acquire a 100% interest in the St. Vincent Bay Property by making aggregate cash payments of $2,000,000 and issuing an aggregate of 3,000,000 common shares over the term of the option as follows:

paying $200,000 and issuing 500,000 common shares on receiving regulatory approval from the TSX Venture Exchange;

issuing 500,000 common shares by the first anniversary of the Agreement;

paying $500,000 on or before eighteen months of the date of the Agreement;

issuing 1,000,000 common shares by the second anniversary of the Agreement;

paying $500,000 on or before thirty months of the date of the Agreement;

issuing 1,000,000 common shares by the third anniversary of the Agreement;

paying $800,000 on or before forty-two months of the date of the Agreement.

Nomad will be responsible for monthly mortgage payments and foreshore lease and waste payments during the term of the Agreement.

Following an end of mine life of the Property, SVB will have the right to repurchase the Property from Nomad for $2,000,000.

In addition, Nomad entered into a finder's fee agreement (the 'Finder's Agreement') whereby Nomad agreed to issue 500,000 common shares to a finder in exchange for his assistance in entering into the Agreement.

About the St. Vincent Bay Property

The St. Vincent Bay Property is a permitted landfill site that is ideally located on the Jervis Inlet in the Sunshine Coast of British Columbia and is comprised of over 3000 feet of low bank oceanfront access and totals 84.8 acres in size. It is approximately 40 KM's from Powell River, BC and is accessible by road and water year round.

The Sunshine Coast has long been a major producer of aggregate products that are readily consumed by the expanding markets of Southwestern BC and those located south of the border. The market for natural and crushed stone aggregate in British Columbia is growing, but known resources are beginning to dwindle, and the importance of aggregate exploration, land-use planning and resource inventory is escalating. Much of the demand for aggregate in Southwestern British Columbia is satisfied by operations located along the Sunshine Coast.

Current aggregate producers in the area include Lehigh Hanson, Jack Cewe Ltd. and Polaris Minerals Corp. Construction aggregate values have steadily increased in BC from approximately $100 Million in the early 1980's to $300 Million plus in 2012 according to Statistics and Natural Resources Canada.

The Geological Survey Branch of the Ministry of Energy and Mines completed an aggregate potential mapping project along the Sunshine Coast in 2001. The location of the St. Vincent Bay Property was identified as an area of interest that exhibits characteristics favorable for a natural aggregate deposit.

Two samples of unsorted surficial material, apparently consisting of naturally degraded bedrock, were taken at depths of approximately 6 metres from backhoe trenches, 80 metres apart. The samples, which are not necessarily representative of the whole property or any part of it, were subjected to particle-size analysis by Golder Associates Ltd.

The particle size distribution appears to indicate the possibility of a natural aggregate deposit, potentially suitable for construction purposes.

The property was previously operated as a logging and log sort facility and most of the required heavy machinery and equipment is located on the property including excavators, loaders and hauling equipment. An 80 tonne ramp suitable for loading aggregate onto barges is on site.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Nomad cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Nomad's control.


Nomad Ventures Inc.

Suite 100, 1861 Welch Street

North Vancouver, B.C.

V7P 1B7

Tel: 604.987.6012

Fax: 604.677.5500


For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: ENP Newswire

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters