Nortec Minerals Provides Corporate Update
December 14 2010 - 10:16AM
Marketwired
Nortec Minerals Corp. (TSX VENTURE: NVT)(PINK SHEETS:
NMNZF)(FRANKFURT: WMQ) ("Nortec" or the "Company") announces that
the Company's Board of Directors accepted the resignation of Mr.
Richard (Dick) L. Richards, CA, effective December 10, 2010.
Mr. Richards served as a Director since December 22, 2003, the
time of Company's Qualifying Transaction from a capital pool
company to a resource-based mining exploration company. He also
served as the Chairman of the Audit Committee.
Mohan R. Vulimiri, Executive Chairman of Nortec, said, "On
behalf of the Board of Nortec I wish to express our sincere thanks
to Dick for his participation on the Board of Directors. Dick was
instrumental in helping streamline the financial statements
according to the rules and regulations of the Securities
Commissions and the TSX Venture Exchange and he also participated
in the various Nortec private placement financings."
Mr. Richards is appointed to the Advisory Board as Advisor,
Corporate Matters.
In other news, Etienne Walter, non-executive Chairman of Nortec,
wishes to apologise for the misunderstandings caused by his recent
trading activity in the shares of Nortec. The Company had many
enquiries with regards to this trading. Etienne exercised his
options for the benefit of the Company, but had to relinquish a
substantial portion of his share position for personal reasons.
This has no relationship with the Company's activities in Ecuador
which he fully supports. Nortec's activities in Ecuador are
proceeding favourably and as planned.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in
Vancouver, British Columbia. The Company has a 100% interest in the
Tammela Lithium-Tin-Tantalum Project in south-west Finland; a 100%
interest in the LK Palladium-Platinum-Gold-Copper-Nickel Project in
north-central Finland The Company has an option to earn from
Akkerman Exploration B.V., a 100% interest in the
Seinajoki-Gold-Antimony Property and Kaatiala Rare
Earth-Beryllium-Tin-Lithium Property in western Finland, an option
to earn 100% interest in the TL Nickel-Copper-Cobalt Property in
Northern Labrador, Canada; and, an option to acquire 51% interest
in the Ganarin Gold-Silver Property, Ecuador.
On behalf of the Board of Directors,
NORTEC MINERALS CORP.
Mohan R. Vulimiri, Executive Chairman & CEO
This press release contains certain forward looking statements
which involve known and unknown risks, delays and uncertainties not
under the Company's control which may cause actual results,
performances or achievements of the Company to be materially
different from the results, performances or expectations implied by
these forward looking statements. This news release does not
constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United States.
The TSX Venture Exchange has not reviewed and does not accept
the responsibility for the adequacy or accuracy of this news
release.
Contacts: Nortec Minerals Corp. Mohan R. Vulimiri Executive
Chairman & CEO +1 604-717-6426 +1 604-683-9649 (FAX)
www.nortecminerals.com
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