Nomad Ventures announces Purchase Order
Nomad Ventures Inc. (“Nomad”) (TSX-V: NMD) is very pleased to announce that it has received a purchase order for 70,000 tonnes of aggregate and specialty rock products from Apex Siteworks Ltd (“Apex”), a Vancouver area construction contractor and developer (the “Apex Purchase Order”). The Apex Purchase Order represents revenue of more than $2 million and has a delivery schedule over the next 2 years.
The Apex Purchase Order represents approximately 15% of Nomad’s current annual permitted extraction volume from the St. Vincent Bay Quarry and is an important milestone towards establishing the company as a significant aggregate and rock product supplier for the Vancouver/Lower Mainland market.
Supply contracts for other construction and development companies are currently being negotiated by Nomad with the intention of meeting the initial allowable volumes of the Company’s mining permit.
Nomad will be preparing the St. Vincent Bay Quarry to be ready for the extraction of aggregate and specialty rock products. Nomad anticipates sales under the Apex Purchase Order will occur shortly after the site is ready for extraction.
Technical material in this news release has been reviewed by James H. Place, P.Geo., a Director of the company and a Qualified Person as defined in NI43-101.
The commencement of production on the St. Vincent Bay Property will not be based on a feasibility study of mineral reserves demonstrating economic and technical viability.