FOR IMMEDIATE RELEASE
NEWS
RELEASE
Nord Resources Corporation
1 Wetmore Road, Suite 203
Tucson, Arizona 85705
Tel: (520) 292-0266 Fax: (520) 292-0268
Nord Resources Corporation Announces
Nedbank Term Sheet
Monday, April 16, 2007
SOURCE: Nord Resources
Corporation
TUCSON,
Arizona., April 16, 2007- Mr. Ronald Hirsch, Chairman of the board of Directors
of Nord Resources Corporation ("Nord") (Other OTC:
NRDS.PK - News) $25
million secured term loan credit facility that would be used by Nord for the
reactivation of Nord’s Johnson Camp Mine project in Arizona. Nedbank,
based in Johannesburg, is one of South Africa’s largest banks and premier
resource financing institutions, with assets of over $50 billion. The credit
facility will be subject to the entering into of a definitive loan agreement
between Nord and Nedbank. Draw down under the facility will be subject to
certain conditions, including the completion by Nord of a $20 million equity
financing within the next three months, pay-out of Nord’s existing $5
million bridge loan facility with Nedbank and customary conditions to closing.
All amounts advanced under the credit facility will be secured by Nord’s
assets and will be repaid with interest within a four year period from the
first draw down.
In connection with the delivery of the term sheet, Nord has entered into an
agreement with Nedbank whereby:
For information contact:
Ronald A. Hirsch, Chairman, (949) 715-6745.
Website: www.nordresources.com
Forward-Looking Statement Disclaimer
This press release includes certain statements that are "forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements in this news release, other than statements
of historical facts, including Nord’s plans negotiate and enter into
a definitive loan agreement with Nedbank and its plans to reactivate the Johnson
Camp Mine project, are forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking statements
include uncertainties concerning the ability of the parties to enter into
a definitive loan agreement on mutually acceptable terms, as well as uncertainties
concerning Nord’s ability to satisfy the conditions to draw down of
the Nedbank credit facility, including the completion of the necessary equity
financing.
Investors are cautioned that any such statements are not guarantees of future
performance and that actual results or developments may differ materially
from those projected in the forward-looking statements. In addition, Nord’s
business and operations are subject to the risks set forth in Nord’s
most recent Form 10-KSB, and other SEC filings which are available through
EDGAR at www.sec.gov. These are among the primary risks we foresee at the
present time. Nord assumes no obligation to update the forward-looking statements.