LAVAL, QUEBEC--(Marketwire - Sept. 21, 2012) - NQ Exploration Inc. (TSX VENTURE:NQE) announces that, subject to the approval of the TSX Venture Exchange, it will issue 301,640 common shares to each of the Fonds de solidarité FTQ and Sidex Limited Partnership ("Sidex") (150,820 common shares) at a price of $0.05 per share in payment of debenture interest of $7,540.98 (Sidex) and $7,540.98 (Fonds de solidarité FTQ) for a total of $15,081.96 due on September 2, 2012. Interest is payable on debentures issued under the terms of subscription agreements dated September 3, 2009, pursuant to which NQ issued to each of the Fonds de solidarité FTQ and Sidex a convertible $125,000 debenture on which interest is payable semi-annually, either in cash or in common shares of the Company's capital stock.
NQ Exploration also announces an amendment to the debt settlement with Société de développement de la Baie-James ("SDBJ") announced on July 17, 2012.
NQ Exploration will issued to SDBJ 241,320 common shares at a price of $0.05 per share in payment of interest accrued on the $200,000 convertible debenture issued on December 29, 2011, aggregating $12,066 and due as of June 29, 2012. The price per share of $0.05 represents the minimum allowed under the policies of the TSX Venture Exchange. The debenture bears interest at the rate of 12% per annum, payable semi-annually either in cash or in shares.
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.
Neither the 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.