Nevada Sunrise Closes Second and Final Tranche of Private Placement
Nevada Sunrise Closes Second and Final
Tranche of Private Placement
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR TO
UNITED STATES
NEWSWIRE
SERVICES/
TSXV: NEV
VANCOUVER
,
July 17, 2018
/CNW/ - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the
"Company") (TSXV: NEV) announces today that it has closed the second and final tranche of its
previously announced non-brokered private placement of units ("Units") at a price of
$0.15
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
$0.25
for a period expiring on the earlier of three
years following the closing date of the Offering and, subject to the issuance of notice by the
Company in the manner provided for in the subscription agreements for the Offering, the day which
is 30 days after the date that the volume weighted average trading price of the common shares of
the Company on the TSX Venture Exchange (the "TSXV") exceeds
$0.40
per share over a period of
10 consecutive trading days.
Nevada Sunrise placed 685,000 Units in the second tranche of the Offering for gross proceeds of
$102,750
. A total of 2,905,133 Units were placed in both tranches of the Offering for gross
proceeds of
$435,770
. 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 first tranche of the Offering is
November 6, 2018
. The hold period expiry date for
securities issued in the second tranche of the Offering is
November 18, 2018
.
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. 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
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 a 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.
In
November 2017
, Nevada Sunrise announced an option to earn a 100% interest in the historic
Lovelock Cobalt Mine property, located approximately 100 miles (150 kilometres) east of
Reno
. In
March 2018
, the Company announced options to earn 100% interests in the Treasure Box and
Boyer Mine copper properties, located approximately 3.6 miles (5.8 kilometres) southwest of the
Lovelock Cobalt Mine.
Nevada Sunrise began acquisitions of
Nevada
lithium properties in 2015, which includes 100%
interests in the Neptune,
Jackson Wash
and Aquarius projects, a 50% interest in the Gemini project
(Eureka Resources, Inc. (TSXV: EUK) holds a 50% interest), and 100% interest in the Atlantis
project, currently under option to American Lithium Corp. (TSXV: LI).
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) 484-7143, Email: [email protected]
CO: Nevada Sunrise Gold Corporation
CNW 18:00e 17-JUL-18