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BRIEF-Nevada Exploration says has elected not to proceed with the non-brokered private placement announced on April 7, 2015

Published 2015-08-10, 10:51 p/m
© Reuters. BRIEF-Nevada Exploration says has elected not to proceed with the non-brokered private placement announced on April 7, 2015
NGE
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Aug 10 (Reuters) - Nevada Exploration Inc NGE.V :
* Announces proposed financing and reorganization
* Says has entered into an agreement to complete a non-brokered private
placement of up to $750,000 in aggregate proceeds.
* Pursuant to offering, company plans to issue up to 15,000,000
post-consolidation units at a price of $0.05 per unit
* Says upon completion of offering, it is expected that dennis higgs and darcy
higgs will become insiders of the company
* Says concurrently withclosing of offering, Dennis Higgs and benjamin leboe
will be appointed to board of directors
* Says concurrently withclosing of offering, cyrus driver and ken tullar will
resign as directors of the company
* CEO, COO and president have agreed to terminate their existing agreements and
enter into new agreements
* Has entered into loan agreements with arm's length parties to provide an
aggregate of $46,957.50 as unsecured demand loans
* Says it has elected not to proceed with the non-brokered private placement
announced on April 7, 2015
* Says the offering is scheduled to close on or about August 27, 2015
* Source text for Eikon ID:nCCN3y9kxm

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