/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