Noka Resources Announces Non-Brokered Private Placement Financing
Vancouver, BC – February 2, 2015: Noka Resources Inc. (TSX-V: NX, FSE: 2NK) (the “Company”) announces that it has arranged a non-brokered private placement (the “Private Placement”) of up to 10,000,000 units (the “Units”) at a price of $0.05 per Unit to raise gross proceeds of up to $500,000.
Each Unit will consist of one common share of the Company and one-half of one non-transferable share purchase warrant (a “Warrant”). Each whole Warrant shall be exercisable to acquire one additional common share of the Company (a “Warrant Share”) for a period of one year at a price of $0.10 per Warrant Share.
The Company intends to use the proceeds from the Private Placement to conduct further exploration on its Athabasca Basin Uranium properties and for general working capital.
The Private Placement is subject to acceptance by the TSX Venture Exchange. All the securities issued under the Private Placement are subject to resale restrictions under applicable securities legislation.
In addition, the Company announces that, further to its joint venture on its Carpenter Lake Uranium Property, the JV Management Committee has determined that one claim consisting of approximately 3,765 hectares does not warrant further exploration and has returned it to the Company. For more information on the joint venture, please visit the Company’s website.
About Noka Resources Inc.:
Noka Resources Inc. is a junior exploration company with a focus on uranium in the prolific Athabasca Basin of 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 prospective land position of 493,236 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, an option to earn 100% interest in the Lodge Pole Point Project, as well as a 25% interest in the Western Athabasca Syndicate group of properties.
For further information, please contact Nav Dhaliwal, President, at [email protected] or visit www.nokaresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
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.