Nevada Sunrise Closes $600,000 Private Placement
Nevada Sunrise Closes $600,000 Private
Placement
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR TO
UNITED STATES
NEWSWIRE
SERVICES/
TSX Venture Exchange: NEV
VANCOUVER, BC
,
Aug. 19, 2020
/CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or
the "Company") (TSXV: NEV) is pleased to announce the closing of its previously-announced private
placement (the "Offering") consisting of 6,000,000 units (the "Units") at a price of
$0.10
per Unit,
each Unit consisting of one common share of the Company and one-half of one common share
purchase warrant for gross proceeds of
$600,000
. Each whole warrant (a "Warrant") will entitle the
holder to purchase one common share at a price of
$0.16
for a period of two years from closing of
the Offering, expiring on
August 19, 2022
.
All securities issued in the Offering are subject to a four–month hold period, until
December 20,
2020
, during which time the securities may not be traded. 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. No finder's fees were paid in conjunction with the Offering. Closing of the Offering is
subject to the acceptance of the TSX Venture Exchange.
Proceeds of the Offering will be used for exploration on the Company's
Nevada
mineral exploration
projects and for 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, copper, cobalt and lithium exploration projects
located in the
State of Nevada, USA
.
The Company's key gold asset is a 20% interest in a joint venture with New Placer Dome Gold
Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near
Wendover
, with the property subject
to a 3.0% net smelter returns royalty.
Nevada Sunrise has the right to earn a 100% interest in the historic Lovelock Cobalt Mine and
Treasure Box
copper property, each located approximately 150 kilometers (100 miles) east of
Reno
, both of which are currently under option to Global Energy Metals Corp. (TSXV: GEMC) who
can earn up to an 85% participating interest from the Company. In
September 2018
, Nevada
Sunrise acquired the right to earn a 100% interest in the Coronado VMS Project, located in
Pershing
County
, approximately 48 kilometers (30 miles) southeast of
Winnemucca
.
Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of
which are located in
Esmeralda County
. The Company owns Nevada water right Permit 44411,
located within the Clayton Valley basin near Silver Peak,
Nevada
.
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
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/August2020/19/c9651.html
%SEDAR: 00026824E
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 16:00e 19-AUG-20