Nevada Sunrise Closes $150,000 Private Placement
Nevada Sunrise Closes $150,000 Private
Placement
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR TO
UNITED STATES
NEWSWIRE
SERVICES/
TSXV: NEV
VANCOUVER
,
Oct. 29, 2018
/CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the
"Company") (TSXV: NEV) announced today that it has closed its previously announced non-brokered
private placement of units ("Units") at a price of
$0.05
per Unit (the "Offering"). Each Unit consists of
one common share of the Company (a "Share") and one common share purchase warrant (a
"Warrant"). Each Warrant will entitle the holder to purchase one common share (a "Warrant Share")
at a price of
$0.10
for a period expiring on the earlier of two years following the closing date of the
Offering.
Nevada Sunrise placed 3,000,000 Units in the Offering for gross proceeds of
$150,000
. All
securities issued in the Offering are subject to a four-month hold period, during which time the
securities may not be traded. The hold period expiry date for securities issued in the Offering is
March 1, 2019
. In connection with the Offering, the Company paid finders' fees of 7% cash totaling
$4,025
.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in
the United States
unless registered under the Act or
unless an exemption from registration is available. In connection with the Offering, the Company paid
finders' fees of 7% cash totaling
$4,025
. Closing of the Offering is subject to the acceptance of the
TSX Venture Exchange.
Proceeds from the Offering will be used to fund the exploration of the Company's
Nevada
mineral
properties, and as general working capital.
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 gold, cobalt, copper and lithium exploration projects
located in the
State of Nevada, USA
.
The Company's two key gold assets include a 100% interest in the Golden Arrow project near
Tonopah
, currently the subject of an imminent transaction with Emgold Mining Corporation (TSXV:
EMR), and a 21% interest in a joint venture at Kinsley Mountain with Liberty Gold Inc. (TSX: LGD)
near
Wendover
, with each of the properties subject to certain production royalties.
Nevada Sunrise has an option to earn a 100% interest in the historic Lovelock Cobalt Mine and
Treasure Box copper properties, located approximately 100 miles (150 kilometers) east of
Reno
,
which are currently the subject of a proposed transaction with Global Energy Metals Corp. (TSXV:
GEMC). In
March 2018
, the Company announced an option to earn a 100% interest in historic
Boyer Mine copper property, located adjacent to the Treasure Box claims. In
September 2018
, the
Company acquired the right to earn a 100% interest in the Coronado VMS Project, located in
Pershing County
, approximately 30 miles (48 kilometers) southeast of
Winnemucca
.
Nevada Sunrise owns 100% interests in the Neptune,
Jackson Wash
and Aquarius lithium projects, a
50% interest in the Gemini lithium project (Eureka Resources Inc. (TSXV: EUK) holds a 50%
interest), and a 100% interest in the Atlantis lithium project, currently under option to American
Lithium Corp. (TSXV: LI), all of which are located in
Esmeralda County
.
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. 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.
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 of
accuracy of this release. The Securities of Nevada Sunrise Gold Corporation have not been
registered under the United States Securities Act of 1933, as amended, and may not be
offered or sold within
the United States
or to the account or benefit of any U.S. person.
SOURCE
Nevada Sunrise Gold Corporation
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For further information:
Warren Stanyer, President and Chief Executive Officer, Telephone: (604)
428-8028, Facsimile: (604) 684-9365, email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 19:33e 29-OCT-18