Mr. Warren Stanyer reports
NEVADA SUNRISE CLOSES $210,000 PRIVATE PLACEMENT
Nevada Sunrise Gold Corp. has closed its previously announced private placement, consisting of seven million units at a price of three cents per unit, each unit consisting of one common share of the company and one common share purchase warrant, for gross proceeds of $210,000. Each warrant will entitle the holder to purchase one common share at a price of five cents for a period of two years from closing of the offering, expiring on July 10, 2022.
All securities issued in the offering are subject to a four-month hold period, until Nov. 11, 2020, during which time the securities may not be traded. 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. No finders' fees were paid in conjunction with the offering. Closing of the offering is subject to the acceptance of the TSX Venture Exchange.
Proceeds of the offering will be used for operating expenses and outstanding payables, as follows:
Mineral property option payment: $46,500
Audit fees: $50,000
Management fees and salaries due to related parties: $38,250
Geological consulting: $12,000
Investor relations and promotion: $7,000
Office rent and expenses: $6,500
Private placement closing costs: $3,000
Regulatory fees: $3,000
Transfer agent fees: $1,300
Other outstanding payables and unallocated working capital: $27,450
About Nevada Sunrise Gold Corp.
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, B.C., Canada, that holds interests in gold, copper, cobalt and lithium exploration projects located in the state of Nevada, United States.
The company's key gold asset is a 20-per-cent interest in a joint venture with New Placer Dome Inc. at the Kinsley Mountain gold project near Wendover, with the property subject to a 3.0-per-cent net smelter return royalty.
Nevada Sunrise owns 100-per-cent interests in the Jackson Wash and Gemini lithium projects, both of which are located in Esmeralda county.
We seek Safe Harbor.
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