Noka Resources Closes Oversubscribed Second Tranche of Financing
26 February 2014 - 1:00AM
Marketwired
Noka Resources Closes Oversubscribed Second Tranche of Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 25, 2014) - Noka
Resources Inc. (TSX-VENTURE:NX)(FRANKFURT:2NK) (the "Company") is
pleased to announce that, further to the Company's news release
dated February 6, 2014 whereas the Company closed $597,500 of the
Non-Brokered Private Placement financing (the "Financing"), the
Company has closed the second tranche of the Financing for
additional gross proceeds of $536,000, bringing the total amount
raised to $1,133,500.
The Company has allotted and issued 5,360,000 Units (the
"Units") at a price of $0.10 per Unit. Each Unit consists of one
common share in the capital of the Company and one share purchase
warrant (the "Warrant"). Each Warrant is exercisable by the holder
to acquire one additional common share of the Company for a period
of two years from issuance at an exercise price of $0.20 per
share.
In addition, the Company has paid a finder's fee of an aggregate
$36,000 and 360,000 Finder's Warrants (the "Finder's Warrants") to
registered dealers. Each Finder's Warrant is exercisable by the
holder to acquire one additional common share of the Company for a
period of two years from issuance at an exercise price of $0.20 per
share.
All securities issued under the Financing are subject to a
four-month statutory hold period that expires on June 25, 2014.
About Noka Resources Inc.:
Noka Resources Inc. is a junior exploration company with a focus
on uranium in the prolific Athabasca Basin, Northern Saskatchewan.
Noka's exploration strategy is focused in relatively underexplored
areas of the Athabasca Basin Region, targeting favourable geology
and structure amenable to near surface, unconformity-style uranium
mineralization.
With a total land position of 488,463 hectares, Noka holds one
of the largest geologically prospective land packages in the region
through a 100% interest in the Clearwater (which includes the
Carpenter Lake) and Athabasca North group of properties, as well as
a 25% interest in the Western Athabasca Syndicate group of
properties.
ON BEHALF OF THE BOARD OF DIRECTORS
Nav Dhaliwal, President and CEO
Neither 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.
This release includes certain statements that may be deemed
to be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
Noka Resources Inc.Nav DhaliwalPresident and CEO(604)
678-5308(604)
678-5309nav@nokaresources.comwww.nokaresources.com
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