Nevada Sunrise Closes Private Placement
Nevada Sunrise Closes Private Placement
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR TO
UNITED STATES
NEWSWIRE
SERVICES./
TSXV: NEV
VANCOUVER
,
July 25, 2019
/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 3,750,000 Units in the Offering for gross proceeds of
$187,500
. All
securities issued in the Offering are subject to a four-month hold period until
November 26, 2019
,
during which time the securities may not be traded. In connection with the Offering, the Company
paid finder's fees totaling
$1,750
cash and issued 35,000 finder's warrants to Haywood Securities
Inc. Each finder's warrant is exercisable for one Share at a price of
$0.06
for a period of two years
from the closing date of the Offering.
The securities described herein have not been registered under the U.S. Securities Act of 1933 (the
"Act"), 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. Closing of the Offering is subject to the
acceptance of the TSX Venture Exchange.
Insiders of the Company purchased 380,000 Units of the Offering. Proceeds from the Offering will
be used to fund the exploration of the Company's
Nevada
mineral properties, 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 21% interest in a joint venture with Liberty Gold Inc. (TSX: LGD)
at the Kinsley Mountain Project ("Kinsley Mountain") near
Wendover
, with the property subject to a
3.0% net smelter returns royalty. For further information on
Kinsley Mountain
, including a technical
report compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects
entitled "Updated Technical Report and Estimated Minerals Resources for the Kinsley Project" (the
"Report"), effective
October 15, 2015
. The Report dated
December 16, 2015
was subsequently
filed on SEDAR and can be accessed at
http://www.sedar.com
Nevada Sunrise has the right to earn a 100% interest in the historic Lovelock Cobalt Mine and
Treasure Box
copper properties, 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 Neptune,
Jackson Wash
and Aquarius lithium projects, a
50% interest in the Gemini lithium project (Kore Mining Ltd., (TSXV: KORE) holds a 50% interest),
and a 100% interest in the Atlantis lithium project, all of which are located in
Esmeralda County
. The
Company also owns Nevada water right Permit 44411, which has been the subject of an
administrative hearing process and litigation in
Nevada
that was settled in
July 2019
.
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 17:46e 25-JUL-19