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Noka Closes Brokered Private Placement and Raises $784,299

Noka Resources Inc. has closed its brokered private placement announced in the company's news release of Aug. 9, 2013.

Macquarie Private Wealth Inc. acted as lead agent in connection with the brokered private placement of 5,228,660 units at a price of 15 cents per unit, which included an additional 228,660 units issued upon exercise by the agent of the overallotment option, to raise gross proceeds of $784,299.

Each unit consists of one common share of the company and one transferrable share purchase warrant. Each warrant is exercisable to acquire one additional common share of the company for a period of two years at a price of 20 cents per warrant share during the first year, and a price of 25 cents per warrant share during the second year.

The agent and its selling group received an aggregate cash commission equal to 9 per cent of the gross proceeds raised by the agent in the private placement. The agent and its selling group also received options entitling them to purchase common shares of the company equal to 9 per cent of the number of units sold by the agent exercisable at a price of 15 cents per common share for a period of 24 months from the closing date of the private placement.

The company also paid the agent a corporate finance fee and the agent's expenses in connection with the private placement.

The company intends to use the proceeds from the private placement to conduct further exploration on its Athabasca basin uranium properties and for general working capital.

All the securities issued under the private placement are subject to resale restrictions under applicable securities legislation.

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