Vancouver, British Columbia - September 21, 2018 - Noram Ventures Inc. (TSXV:NRM) (the “Company”). As previously disclosed, the Company confirms that its’ wholly-owned subsidiary, Green Energy Inc., has entered into a property purchase agreement, dated effective May 28, 2018 with Alba Minerals Ltd. (“Alba”), pursuant to which the Company proposes to acquire the 25% minority interest held by Alba in a series of mineral claims located in Clayton Valley, Nevada.
In consideration for the interest, the Company will issue to Alba 3,800,000 common shares and will complete a one-time cash payment of $400,000. In addition, Alba will receive a right of first refusal to participate in future financings conducted by the Company to maintain its ownership interest. No finders’ fees or commissions are payable in connection with the transaction.
Completion of the transaction with Alba remains subject to the approval of the TSX Venture Exchange (the “Exchange”). The Company and Alba share a common director, and as a result are deemed to be non-arms length parties under the policies of the Exchange. As a result, the Exchange may impose additional conditions on any approval, including a requirement to provide a valuation of the interest being acquired and to obtain shareholder approval for the transaction. There can be no guarantee that approval of the Exchange will be obtained, or that the transaction will proceed in a timely fashion.
The Company will provide additional information regarding the transaction as soon as it becomes available.
About Noram Ventures Inc.
Noram Ventures Inc. (TSX - Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium deposits and becoming a low - cost supplier for the burgeoning lithium battery industry. The Company’s primary business focus since formation has been the exploration of mineral projects. Noram’s long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of Europe, North America and Asia.
Please visit our web site for further information: www.noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Mark R. Ireton”
President & Director
Direct: (604) 761-9994
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.