/Not for Distribution to U.S. Newswire Services or
Dissemination in the United
States/
Trading Symbol: NDX - TSX-V
VANCOUVER,
Nov. 1, 2012 /CNW/ - Novadx Ventures
Corp. ("Novadx" or the "Company") (TSXV: NDX)
announces that its 2012 Annual General Meeting previously scheduled
for November 20, 2012, (the
"Meeting") has been delayed pending receipt of all requisite
regulatory approvals with respect to various matters which are to
be put before shareholders for approval at the Meeting. The
Company will advise shareholders of the new date for the Meeting
once it has been determined.
The Company, together with its agent, Casimir
Capital Ltd. is continuing to market the brokered special warrant
financing announced on October 12,
2012 incorporating the benefits of the additional
Tennessee coal mining assets which
are proposed to be acquired by the Company and Sandstorm Metals and
Energy Ltd, as announced on October 16,
2012. These additional assets include a fully
permitted mine with additional high quality Rex seam metallurgical
coal contiguous with the Company's Rex # 1 Mine, a nearby fully
permitted heavy media coal preparation plant, and a nearby fully
functional unit train railroad load-out on the Norfolk Southern
Railroad.
About Novadx: Novadx Ventures Corp.
is a Vancouver based mining
investment company. Through its wholly owned subsidiary, Novadx's
primary focus is to invest its capital to acquire and develop
companies with active or near production high quality coal reserves
in the US Appalachia coal region. Novadx intends to continue to
grow the value of its coal investments through expanding production
and reserves amongst its existing investments and by investing in
additional acquisitions. Novadx is actively evaluating a
number of high quality coal acquisition opportunities. For
more information please visit www.novadx.com.
About MCoal: MCoal Corporation is a
wholly-owned subsidiary of Novadx Ventures Corp. which operates the
Rosa coal mine in Blount County, Alabama and is developing the
Rex #1 coal mine in Campbell County,
Tennessee.
ON BEHALF OF THE BOARD
Daniel A. Roling
President, CEO and Director
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release The TSX Venture Exchange
has in no way passed upon the merits of the proposed transaction
and has neither approved nor disapproved the contents of this press
release. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any sale
of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the qualification
under the securities laws of such jurisdiction.
This release contains "forward-looking
information" that includes information relating to future events
and future financial and operating performance, including
management's assessment of Novadx's and MCoal's future outlook,
potential financings, potential acquisitions, properties,
permitting and mining activities and production. Specifically, this
release contains forward-looking information related to
future development of assets, mining operations, permitting and
regulatory approvals, and potential financings. Statements included
in this announcement, including statements concerning our plans,
intentions and expectations, which are not historical in nature are
intended to be, and are hereby identified as, "forward-looking
statements" for purposes of the safe harbor provided by Section 21E
of the Securities Exchange Act of 1934, as amended by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by words including "anticipates",
"believes", "intends", "estimates", "expects" and similar
expressions. Forward-looking information should not be read as a
guarantee of future performance or results and will not necessarily
be accurate indications of the times at, or by which, that
performance or those results will be achieved. Forward-looking
information is based on information available at the time it is
made and/or management's good faith belief as of that time with
respect to future events, and such information is subject to risks
and uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking information. Important factors that could cause
these differences include but are not limited to: requisite
regulatory and shareholder approvals, actual or expected sampling
or production results, pricing and assumptions, projections
concerning reserves and/ or resources in our mining operations;
changes in contracted sales, the business of the Company may suffer
as a result of uncertainty surrounding the coal market; the Company
may be adversely affected by other economic, business, and/or
competitive factors; the worldwide demand for coal; the price of
coal; the price of alternative fuel sources; the supply of coal and
other competitive factors; the costs to mine and transport coal;
the ability to maintain existing mining leases and rights and the
ability obtain new mining leases, rights and permits; governmental
and regulatory approvals, the costs of reclamation of previously
mined properties; the risks of expanding coal mining activities and
production; the ability to bring new mines on line on schedule;
industry competition; the Company's ability to continue to execute
its growth strategies; the Company's ability to secure and complete
additional financing and debt restructuring; the Company's ability
to complete planned acquisitions; and general economic conditions.
You should not put undue reliance on any forward-looking
information. We assume no obligation to update forward-looking
information to reflect actual results, changes in assumptions or
changes in other factors affecting forward looking information,
except to the extent required by applicable securities laws. If we
do update one or more forward-looking information, no inference
should be drawn that we will make additional updates with respect
to those or other forward-looking information. The company
cautions readers that forward-looking statements, including without
limitation those relating to the company's future operations and
business prospects, are subject to certain risks and uncertainties
that could cause actual results to differ materially from those
indicated in the forward-looking statements.
SOURCE Novadx Ventures Corp.