debt consolidation companies nevada

Nevada Sunrise Announces Closing of Debt Settlement

TSX Venture Exchange: NEV

Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSXV: NEV) announces that following its news release of June 21, 2021 it has received approval from the TSX Venture Exchange ("TSXV") for a shares-for-debt transaction to settle an aggregate of $18,793.48 in indebtedness to the Company's independent directors through the issuance of 221,099 common shares of the Company (the " Settlement Shares "), at a deemed price of $0.085 per Settlement Share (the " Debt Settlement "). Accordingly, the Company announces that it has completed the Debt Settlement. The Settlement Shares are subject to the statutory hold period of four months and a day, expiring December 1, 2021 .

Related Party Transactions

Because the Settlement Shares will be issued to directors of the Company, the Debt Settlement will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), which is incorporated into Policy 5.9 of the TSXV Corporate Finance Manual.

The Board of Directors of the Company has determined that neither the value of the shares issued to, nor the aggregate debt settled with respect to, any directors or officers of the Company in connection with the Debt Settlement will exceed 25% of the Company's market capitalization on the date the Debt Settlement was agreed to and on the date hereof. As a result, the Debt Settlement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

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 20.01% interest in a joint venture with New Placer Dome Gold Corp. (TSXV: NGLD) at the Kinsley Mountain Gold Project near Wendover . Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t gold (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t gold (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t gold 1 .

1 Technical Report of the Kinsley Project, Elko and White Pine Counties, Nevada, U.S.A. , effective May 5, 2021 and prepared by Michael M. Gustin , CPG, and Gary L. Simmons , MMSA Q.P. filed on SEDAR under New Placer Dome Gold Corp.'s Issuer Profile ( www.sedar.com ).

Nevada Sunrise has right to earn a 100% interest in the Coronado VMS Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca . The Company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located approximately 150 kilometers (100 miles) east of Reno , with Global Energy Metals Corp. (TSXV: GEMC) holding an 85% participating interest.

Nevada Sunrise owns 100% interests in the Jackson Wash and Gemini lithium projects, both of which are located in Esmeralda County . The Company owns Nevada water right Permit 44411, located in the Clayton Valley basin near Silver Peak, Nevada , and water right Permit 86863, located in the Lida Valley basin, near Lida, Nevada .

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 and may include disclosure of anticipated exploration activities. 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. Other risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Six Months ended March 31, 2021 , which is available under Company's SEDAR profile at www.sedar.com .

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 or 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

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/July2021/30/c3191.html

News Provided by Canada Newswire via QuoteMedia

Nevada Sunrise Metals

Nevada Sunrise Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Nevada Sunrise Metals (TSXV:NEV)

Nevada Sunrise Metals

Advancing AI-assisted gold exploration in Nevada’s premier mining districts

Advancing AI-assisted gold exploration in Nevada’s premier mining districts Keep Reading...
Stacked gold bars with rising graph and text reads: "Weekly Editor’s Picks."

Editor's Picks: Gold, Silver Prices Jump on Treasury's Surprise Move, What's Next?

The gold price kept rising this week, breaking through the US$4,600 per ounce level. Silver was on the move as well, pushing past US$69 per ounce.A slew of drivers for both precious metals emerged during the period, but what's attracting the most attention is an announcement from the US... Keep Reading...
A wooden plank balances on a cylinder labeled "BALANCE" with balls marked "RISK" and "REWARD" against a yellow background.

What Mining's "Legendary" Investors Do Differently

At first glance, “legendary” resource investors don’t look that different from everyone else. They still miss trades, sit through drawdowns and argue about macro. What separates them is less about stock picking and more about how they think, structure their portfolios and behave when markets are... Keep Reading...
John Rubino, gold and silver bars.

John Rubino: Gold, Silver Bull Run Not Over, Expect "Dramatic" Prices

John Rubino, who writes a newsletter on Substack, shares his long-term outlook for gold and silver, saying that this year's price run and pullback are not the end of the bull market. "I think the numbers that we'll start seeing for gold and silver will be dramatic compared to today's numbers,"... Keep Reading...

Onyx Gold Intersects 1.7 g/t Au over 67.0 Meters, Including 13.2 g/t over 6.0 Meters and Visible Gold Grading 73.4 g/t Au at Argus Main

Drilling Continues to Define Higher-Grade Plunging Mineralization within the 1.4-km-long Argus Gold System Onyx Gold Corp. (TSXV: ONYX,OTC:ONXGF) (OTCQX: ONXGF) ("Onyx" or the "Company") is pleased to report assay results from an additional nine (9) drill holes from the Argus Gold System... Keep Reading...
Skull Ridge Gold Acquires 17,225-Hectare Strategic Land Position Along Emerging Crippleback–Stony Lake Gold-Copper Corridor

Skull Ridge Gold Acquires 17,225-Hectare Strategic Land Position Along Emerging Crippleback–Stony Lake Gold-Copper Corridor

Skull Ridge Gold Corp. (CSE: SKUL) (“Skull Ridge” or the “Company”) is pleased to announce that it has acquired, through an arm’s-length Newfoundland prospector 689 mineral claims covering approximately 17,225 hectares in Central Newfoundland. The claims were acquired through the reimbursement... Keep Reading...
Nevada Sunrise Metals

Nevada Sunrise Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Interactive Chart

Latest Press Releases

Related News