MONTREAL, QUEBEC--(Marketwired - Aug. 14, 2015) - NovX21 Inc. (TSX VENTURE:NOV) (or the "Corporation") is pleased to announce the closing of a first tranche of a private placement of units, for a total of $70,000.
Each Unit, at $0.05, is comprised of one common share and one common share purchase warrant of the Corporation. Each warrant allows its holder to purchase one common share at a price of $0.06 for a period of 12 months following the closing date of the private placement.
The securities issued under the private placement are subject to a four (4) month hold period. No finders' fees were paid for this private placement.
The proceeds from this placement will be used for working capital.
NovX21 operates an industrial prototype plant for the recovery of Platinum Group Elements (Platinum, Palladium and Rhodium, or PGMs). The plant is located near Quebec City in St-Augustin-de-Desmaures. Its patented process yields more than 97% recoveries of PGMs, and is not only much less capital extensive but also operates much more rapidly than conventional plants, thus dramatically lowering the amount of time that its customers' capital is tied up as work-in-process inventory. NovX21's mission is to sustainably recover precious metals by recycling end-of-life PGM containing components while meeting global "green" standards for the automobile industry.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.