• TSX-V: NRM
  • OTCPINK: NRVTF
  • Frankfurt: N7R1

News Releases

Noram Announces $2,300,200 Private Placement

February 22, 2021

Vancouver, British Columbia – February 22, 2021 – Noram Ventures Inc. (“Noram” or the “Company”) (TSX Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce that it intends to proceed with a private placement to raise up to $2,300,200 by selling up to a maximum of 3,710,000 units at a price of $0.62 per unit. 

Each unit sold will contain one (1) common share and one (1) transferrable share purchase warrant. Each warrant will be exercisable at a price of $0.94 for a period of two (2) years from the date of issuance. However, should the share price of the Company trade at or above $1.10 for 30 consecutive days, the warrants shall be subject to an acceleration clause under which the subscriber will be entitled to purchase one warrant share, with an expiry of 10 business days from the date the clause comes into effect. A Price Reservation Form was also submitted to the TSX Venture Exchange for this placement on February 22, 2021.

Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance, in accordance with applicable securities legislation.

About Noram Ventures Inc.

Noram Ventures Inc. (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is a Canadian based junior exploration company, with a goal of developing lithium deposits and becoming a low - cost supplier. The Company’s primary business is the Zeus Lithium Project (“Zeus”) in Clayton Valley, Nevada. The Zeus Project has a current resource estimate of 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resources (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent – “LCE”.

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/ “Anita Algie”
Director and CFO
Office: (604) 553-2279

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.