Vancouver, British Columbia (November 14, 2018) Noram Ventures Inc. (TSX-V:NRM) (“Noram” or the “Company”) is pleased to announce that it has closed the transaction for Noram’s wholly-owned subsidiary, Green Energy Inc. to acquire the 25% minority interest held by Alba Minerals Ltd. (“Alba”) in a series of mineral claims located in Clayton Valley, Nevada, pursuant to a property purchase agreement, dated effective May 28, 2018.
In consideration for the interest, Noram 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. This transaction was unanimously approved by the shareholders at the Company’s Annual General and Special Meeting on November 13, 2018.
All shares issued in connection with this transaction will be subject to a regulatory hold period of four months plus a day.
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 developing lithium deposits and becoming a low - cost supplier for the burgeoning lithium 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.
For further information, please visit: www.noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
“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.