DRAGOON, Ariz., Oct. 20, 2005 (PRIMEZONE) -- Nord Resources Corporation (Pink Sheets:NRDS) is pleased to announce that it has recently completed a mezzanine financing in the amount of $2.85 million with a private firm. The proceeds from the mezzanine financing will replace an existing, outstanding debt facility which would have matured and become due on October 19, 2005.
About Nord Resources Corporation:
Nord Resources is an Arizona-based natural resource company focused on the resumption of copper production at its Johnson Camp Mine. Nord Resources also holds options to acquire interests in three additional exploration stage properties in Arizona and New Mexico. The Company also owns approximately 5.1 million shares of Allied Gold Limited, an Australian company. In addition, the Company maintains an interest in the net profits of Sierra Rutile Limited, a Sierra Leone, West Africa company.
FORWARD-LOOKING STATEMENTS:
Any statements made in this press release which are not historical facts contain certain "forward-looking statements", as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievement expressed or implied by such forward looking statements. In some cases, you can identify forward looking statements by terminology such as "may," "will," "should," "could," "intend," "expects," "plan," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms or other comparable terminology. Although we believe that the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements.