TSXV: NEV
VANCOUVER, April 24, 2017 /CNW/ - Nevada Sunrise Gold
Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV)
announces that it has made an application to the TSX Venture
Exchange (the "TSXV") to amend the term of an aggregate of
1,105,000 outstanding share purchase warrants, which were issued on
May 13, 2014 (the "Warrants") in
connection with a non-brokered private placement (see Nevada
Sunrise news release dated May 13,
2014.)
The Company is seeking to extend the term of the Warrants for an
additional two years, to May 13,
2019. The exercise price of the Warrants was previously
reduced from $1.35 to $0.50, and the expiry date was previously
extended to May 13, 2017 (see Nevada
Sunrise news release March 30, 2015).
The Warrants include an accelerated expiry clause such that the
exercise period will be reduced to 30 days if, for any ten
consecutive trading days during the unexpired term, the closing
price of the common shares of Nevada Sunrise exceeds the exercise
price of the Warrants by 25% or more ("the Premium Trading Days").
The reduced exercise period of 30 days will begin no more than 7
calendar days after the tenth Premium Trading Day.
The application to extend the expiry date of the Warrants to
May 13, 2019 is subject to acceptance
by the TSXV.
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 nine mineral exploration projects in the State of Nevada, USA. Nevada Sunrise began
acquisitions of Nevada lithium
properties in September 2015, which
include options to earn a 75% interest in the Neptune project
(Resolve Ventures Inc. (TSXV: RSV) owns a 25% interest), a 100%
interest in the Clayton Northeast project, and a 100% interest in
the Aquarius Project, all located in the Clayton Valley area. The
Company also holds options to earn 100% interests in the Jackson
Wash and Atlantis projects, and has a 50% participating interest in
the Gemini project, each located in playas proximal to the Clayton
Valley. The Company has optioned five of the Nevada lithium projects to Advantage Lithium
Corp. (TSXV: AAL), and the Atlantis project is currently under
option to American Lithium Corp. (TSXV: LI). The Salt Wells Lithium
project, in the Carson Basin near Reno, is currently the subject of due
diligence by the Company.
The Company's three key gold assets include a 21% interest in a
joint venture with Pilot Gold Inc. (TSX: PLG) at Kinsley Mountain
near Wendover, a 100% interest in
the Golden Arrow project near Tonopah, and an option to earn a 100% interest
in the Roulette gold property in the southeastern Carlin trend near Ely, with each of the properties subject to
certain production royalties.
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