Novadx Ventures Corp.(TSXV:NDX) announced the initiation of a new strategic plan which focuses on four key initiatives. The Company put the plan in place with the help of Sandstorm Metals & Energy Ltd.
As quoted in the press release:
The strategic plan is expected to take several months to implement and in the meantime the Company will be pursuing a plan to raise up to $20 million in additional capital. Once the plan has been fully implemented, Novadx will be on solid financial footing and in a better position to build shareholder value. Novadx and Sandstorm remain confident that the Company’s metallurgical and specialty coal projects will create material returns for Novadx shareholders.
Novadx, President and CEO, Neil McDonald, said:
The goal of these strategic initiatives is to see both Rosa and Rex in production and generating significant cash flow for the Company and its shareholders. We need to improve our financial position and with the support of Sandstorm we believe that we will accomplish this.