NQ Exploration Inc./Recent Developments: Convertible Debentures With SIDEX and the Fonds de solidarite FTQ
LAVAL, QUEBEC--(Marketwire - Oct. 26, 2012) - NQ Exploration Inc. (TSX VENTURE:NQE) is pleased to announce that, subject to the approval of the TSX Venture Exchange, it will issue 2,500,000 common shares priced at $0.05 each to SIDEX as full payment of $125,000 in capital payable under a convertible debenture that was issued on September 3, 2009, and matured on September 2, 2012.
The Company is also announcing the signature of an agreement with the Fonds de solidarite des travailleurs FTQ in relation to a $125,000 convertible debenture that was also issued on September 3, 2009, and matured on September 2, 2012. A six-month moratorium has been granted to March 2, 2013, which is now the new debenture maturity date. The parties also agreed to reduce the debenture conversion price from $0.18 to $0.10 per common share. The other terms of the debenture remain unchanged.
ABOUT NQ EXPLORATION INC.
NQ Exploration Inc. is a mining exploration company with a solid portfolio of mining properties in the Abitibi and James Bay regions of Quebec. The Company is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold, silver and base metal deposits.
FOR FURTHER INFORMATION PLEASE CONTACT:
President and Chief Executive Officer