NOVADX APPOINTS CORPORATE COMMUNICATIONS MANAGER AND COMPLETES NET PROFIT INTEREST BUY BACK
(Vancouver, BC, June 21, 2010) Novadx Ventures Corp (TSX-V: NDX) (“Novadx” or the “Company”) is pleased announce that it has appointed Mr. Gavin McMillan to represent the Company in the capacity of Corporate Development & Communications, with a portion of his responsibilities to include providing investor relations services on behalf of the Company. Mr. McMillan will also assume the same responsibilities for the Company’s wholly owned subsidiary, MCoal Corporation (“MCoal”).
Mr. McMillan brings over 20 years of corporate development, management and communications experience to Novadx and MCoal. Mr. McMillan has held similar positions with both private and public companies in involved in the exploration and development of metallurgical coal, precious and base metals and other projects in the alternative energy, bio-tech and communications technology industries. Mr. McMillan has experience presenting companies to investors and analysts and communicating with shareholders.
Neil MacDonald, President and CEO of Novadx and CEO of MCoal, commented, “as we continue to grow MCoal’s business, Gavin will be fulfilling a critical role for our company in communicating with our stakeholders and the investment industry. We welcome him as a member of our senior management team and look forward to the benefit that his years of experience will bring to us.”
In consideration for his services Mr. McMillan will receive a salary of $7,500 per month and will be granted 150,000 stock options exercisable at a price of $0.30 for a period of five years from the date of grant. All terms of Mr. McMillan’s compensation are subject to TSX Venture Exchange approval.
Prior to his appointment, Mr. McMillan was at arm's length to Novadx and MCoal.
Novadx is also pleased to announce that it has completed the previously announced buy back and restructuring transaction between the Company, the Company's wholly owned subsidiary, MCoal Corporation ("MCoal") and Newco Inc., (“Newco”), a company of which Mr. Fred Beane is principal. Newco has agreed to convert a 15% net profit interest in coal mined at MCoal's Rosa Coal Mine into to a 1% gross overriding royalty (the "GOR"), subject to a maximum of US$2,400,000 in royalties being paid over the life of the mine, on all coal mined at the Rosa Coal Mine. In consideration, the Company has issued 2,000,000 shares to Newco at a deemed price of $0.30 per share with a hold period expiring on October 16, 2010. The GOR is also subject to a minimum monthly payment of $10,000 per month starting on the first month MCoal commences processing of Rosa coal at a wash plant to be erected at the Rosa mine site.
About MCoal: MCoal Corporation is a wholly-owned subsidiary of Novadx Ventures Corp., which operates the Rosa Coal Mine. The Rosa Mine is a metallurgical coal mine located in Northern Alabama, approximately 40 miles north of the City of Birmingham. In addition to operating the Rosa Mine, MCoal is actively evaluating a number of high quality coal acquisition opportunities in the Appalachian coal region to increase its reserves and production.
About Novadx: Novadx is a Vancouver-based Investment Company whose primary focus is on providing merchant banking services to natural resource companies. Novadx structures and makes direct equity investments as a principal and provides management and other related services to companies in specific resource sectors, such as MCoal Corporation, a subsidiary company currently permitting a metallurgical coal mine in the State of Alabama, USA. For more information please visit www.novadx.com.
ON BEHALF OF THE BOARD
Neil MacDonald
President and CEO and Director
Neither 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 The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
For more information about Novadx Ventures Corp. please contact:
Neil MacDonald, President and CEO
(604) 633-2776 ext. 23
This e-mail address is being protected from spambots. You need JavaScript enabled to view it



