Nevada Exploration Applies to Extend Warrants
Nevada Exploration Applies to Extend Warrants
VANCOUVER, British Columbia, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”)
(TSX-V:NGE; OTCQB:NVDEF) announces that the Company proposes to extend the expiry date of a total of 7,970,000 share
purchase warrants, all of which are exercisable at $0.30 per share. The Warrants were issued pursuant to a private placement
that closed in two tranches on August 29, 2018, and September 7, 2018, and currently expire on February 28, 2021, and
March 7, 2021 (collectively, the "Warrants"). The Company proposes to extend the expiry dates of the Warrants for one
additional year, as follows:
- The 5,186,000 Warrants expiring on February 28, 2021 (5,156,000 are currently still outstanding), will be extended to
February 28, 2022; and
- The 2,814,000 Warrants expiring on March 7, 2021, will be extended to March 7, 2022.
All other terms and conditions of the Warrants remain unchanged, including the accelerated expiry provision whereby if the
closing price of the common shares of NGE quoted on the TSX Venture Exchange is greater than $0.50 for 10 consecutive
trading days, NGE may accelerate the expiry date of the Warrants to the 30th day after the date on which NGE gives notice to
the Warrant holders of such acceleration.
The Warrant extension is subject to acceptance by the TSX Venture Exchange.
About Nevada Exploration Inc.
With mature, exposed search spaces seeing falling discovery rates, NGE believes the future of exploration is under cover.
The Company has spent 15 years developing and integrating new hydrogeochemistry (groundwater chemistry) and low-cost
drilling technology to build an industry-leading, geochemistry-focused, under-cover toolkit specifically to explore for new gold
deposits in the more than half of Nevada where the bedrock is hidden beneath post-mineral cover. Nevada’s exposed terrains
have produced more than 200 Moz of gold, and experts agree there is likely another +200 Moz waiting to be discovered under
cover in Nevada.
NGE has completed the world’s largest hydrogeochemistry exploration program, focused on north-central Nevada, and is now
advancing a portfolio of new projects in the heart of the Cortez (Battle Mountain-Eureka) Trend.
NGE’s most-advanced project is South Grass Valley, located south of Nevada Gold Mines’ Cortez Complex. Based on the
Company’s work to date at the project, NGE believes it has discovered a mineral system at South Grass Valley with the
architecture and scale to support multiple Carlin-type gold deposits (CTGDs), and the potential to host an entire new district.
NGE believes South Grass Valley is one of the most exciting new district-scale, Carlin-type projects in Nevada.
For more information, the Company’s latest videos are available at:
https://www.nevadaexploration.com/investors/media/
For further information, please contact:
Nevada Exploration Inc.
Email: [email protected]
Telephone: +1 (604) 601 2006
Website: www.nevadaexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking
information”) within the meaning of applicable securities laws, including, without limitation, statements about the proposed
Offering, as well as expectations, beliefs, plans, and objectives regarding projects, potential transactions, and ventures
discussed in this release.
In connection with the forward-looking information contained in this news release, the Company has made numerous
assumptions, regarding, among other things, the assumption the Company will be able to close the Offering on the terms and
timing as currently contemplated, and the Company will continue as a going concern and will continue to be able to access
the capital required to advance its projects and continue operations. While the Company considers these assumptions to be
reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown risk factors which could cause the Company’s actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking information contained herein. Among the important factors that could cause actual results to differ materially
from those indicated by such forward-looking statements are the risk that the Offering may not close on the terms currently
contemplated, or at all, risks inherent in mineral exploration, the need to obtain additional financing, environmental permits,
the availability of needed personnel and equipment for exploration and development, fluctuations in the price of minerals, and
general economic conditions.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company’s continuous
disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is
qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information
contained herein to reflect future results, events or developments, except as required by law.
United States Advisory:
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), have been offered and sold outside the United States to eligible investors pursuant to
Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or
for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities
Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of
the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in
accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or
sale would be unlawful.