Nevada Sunrise Closes Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 16, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
NEVADA SUNRISE GOLD CORPORATION (TSX VENTURE:NEV) (the "Company") -
Further to its news release dated February 9, 2012, the Company has completed its previously announced non-brokered private placement of 2,857,142 units (the "Units") at a price of $0.07 per Unit. Each Unit consisted of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase an additional common share (a "Warrant Share") at an exercise price of $0.10 per Warrant Share until March 16, 2014. All securities issued under the private placement are subject to a four-month hold period, during which time the securities may not be traded.
Proceeds from the Offering will be used to fund the exploration of the Company's North American precious metals properties and as general working capital.
About Nevada Sunrise Gold Corp.
Nevada Sunrise Gold Corp. is a gold exploration company that has a portfolio of three projects in Nevada. The Company controls about 13,175 acres (5,330 hectares). One of the projects, the Kinsley Mountain Project, is in an exploration earn-in joint venture agreement for up to $4.5 million in work commitments. The Company applies the exploration experience and technical skills of its founders to search for and acquire new gold exploration projects that are developed internally and then offered for joint venture.
For the latest details on the Company, its properties, management team and philosophy, please visit our website at www.nevadasunrise.com.
Forward Looking Information. 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.
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.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.
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