Nortec Minerals Corp. announced a non-brokered private placement of up to 4,285,714 units at a price of CAD 0.035 per unit for aggregate gross proceeds of up to CAD 149,999.99 on December 20, 2023. Each unit shall consist of one common share, which will be issued as a flow-through share and one common share purchase warrant.

Each warrant will entitle the holder thereof to purchase one non flow-through common share at an exercise price of CAD 0.05 until the date that is 24 months following the date of issuance of the warrants. The warrants are subject to an accelerated expiry date, at the company's option, which takes effect when the common shares trade at or above the volume-weighted average price of CAD 0.10 per common share on the TSX Venture Exchange for a period of 10 consecutive trading days commencing four months plus one day after the date of issuance of the warrants. The company may pay finder's fees in accordance with the policies of the TSX-V. The private placement is subject to TSX-V acceptance.