Nevada Sunrise Announces Application to Amend Warrants Terms
NEVADA SUNRISE ANNOUNCES
APPLICATION TO AMEND WARRANTS TERMS
NOT FOR DISSEMINATION IN
THE UNITED STATES
OR TO
UNITED STATES
NEWSWIRE
SERVICES
VANCOUVER, BC
,
Nov. 10, 2023
/CNW/ - Nevada Sunrise Metals Corporation ("
Nevada Sunrise
")
(TSXV: NEV) (OTC: NVSGF) announced today that it will make an application to the TSX Venture
Exchange (the "
TSXV
") to amend the terms of 17,172,500 outstanding share purchase warrants
issued on
June 29, 2022
(the "
2022 Warrants
"),
September 15, 2023
and
October 26, 2023
(collectively, the "
2023 Warrants
") in connection with two non-brokered private placements
completed in 2022 and 2023 (for further details on the private placements see Nevada Sunrise news
releases dated
June 29, 2022
,
September 15, 2023
and
October 26, 2023
).
Nevada Sunrise will make application to the TSXV to amend the 2022 and 2023 Warrants as
follows:
to extend the term of 7,500,000 2022 Warrants issued on
June 29, 2022
for an additional two
years to
June 29, 2026
, and to reduce their exercise price to
$0.15
;
to extend the term of 3,562,500 2023 Warrants issued on
September 15, 2023
for an additional
two years to
September 15, 2027
. The exercise price will remain the same at
$0.12
;
to extend the term of 6,110,000 2023 Warrants issued on
October 26, 2023
for an additional
two years to
October 26, 2027
. The exercise price will remain the same at
$0.12
.
The application to extend the term and exercise price of the 2022 Warrants, and the term of the
2023 Warrants, is subject to the acceptance of the TSXV.
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in
Vancouver, BC
,
Canada
, that holds interests in lithium, gold, and copper exploration projects located
in the
State of Nevada, USA
.
Nevada Sunrise owns 100% interests in the Gemini,
Jackson Wash
and Badlands lithium projects, all
of which are located in the Lida Valley basin in
Esmeralda County, NV
, located just east of the
Clayton Valley basin, which hosts the only producing lithium mine in
the United States
operated by
Albemarle Corp. at Silver Peak, NV.
The Company owns Nevada water right Permit 86863, also
located in the Lida Valley basin, near Lida, NV.
The Company's key gold asset is a 20.01% interest in a joint venture at the Kinsley Mountain Gold
Project near
Wendover, NV
with CopAur Minerals Inc. Kinsley Mountain is a Carlin-style gold project
hosting a National Instrument 43-101 compliant gold resource consisting of
418,000 indicated
ounces of gold grading 2.63 g/t Au (4.95 million tonnes), and 117,000 inferred ounces of gold
averaging 1.51 g/t Au (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t Au
1
.
Due to its renewed focus on lithium exploration and development in
Nevada
, the Company has
elected not to contribute to the 2023 exploration program at Kinsley Mountain and expects to incur
dilution of its participating interest in the joint venture to an approximate 19.0% interest.
Website:
www.nevadasunrise.ca
1
Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021 with an effective date of May 5, 2021 and prepared by Michael M. Gustin, Ph.D., and
Gary L. Simmons, MMSA and filed under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR (
www.sedar.com
).
FORWARD LOOKING STATEMENTS
This release may contain forward
–
looking statements. Forward looking statements are statements
that are not historical facts and are generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and
include disclosure of anticipated exploration activities. Although the Company believes the
expectations expressed in such forward
–
looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in forward looking statements. Forward
–
looking statements are based
on the beliefs, estimates and opinions of the Company's management on the date such statements
were made. The Company expressly disclaims any intention or obligation to update or revise any
forward
–
looking statements whether as a result of new information, future events or otherwise.
Such factors include, among others, risks related to future plans for the calculation of a mineral
resource estimate and a PEA at the Gemini Lithium Project; reliance on technical information
provided by third parties on any of our exploration properties; changes in mineral project
parameters as plans continue to be refined; current economic conditions; future prices of
commodities; possible variations in grade or metallurgical recovery rates; failure of equipment or
processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and
other risks of the mining industry; delays due to pandemic; delays in obtaining governmental
approvals, financing or in the completion of exploration, as well as those factors discussed in the
section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Nine
Months ending
June 30
, 2023, which is available under Company's SEDAR profile at
www.sedar.com
.
Although Nevada Sunrise has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in forward-looking information,
there may be other factors that cause actions, events or results not to be as anticipated, estimated
or intended. There can be no assurance that such information will prove to be accurate as actual
results and future events could differ materially from those anticipated in such statements. Nevada
Sunrise disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise. Accordingly, readers should not
place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE
Nevada Sunrise Metals Corporation
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For further information:
Warren Stanyer, President and Chief Executive Officer, email:
[email protected], Telephone: (604) 428-8028 or Jason Powell, Corporate
Communications, email: [email protected], Telephone: (604) 779-6497
CO: Nevada Sunrise Metals Corporation
CNW 16:37e 10-NOV-23