Nevada Sunrise closes $650,000 private placement

Executive Summary

• Nevada Sunrise Metals Corp. has closed a non-brokered private placement raising gross proceeds of $650,000, increasing the initial target from $600,000 due to investor demand.
• The offering consists of 13 million units priced at $0.05 per unit, with proceeds allocated to exploration of Nevada mineral properties, other mineral investigations, and general working capital.
• The transaction includes specific warrant terms for both investors and finders, with securities subject to a statutory hold period until March 7, 2026.

Key Details

• Gross Proceeds: $650,000 (increased from an initial $600,000 target).
• Units Issued: 13,000,000 units.
• Price Per Unit: $0.05.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Investor Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.075. The warrants expire three years from the closing date.
• Use of Proceeds:
  • Exploration work on the company's Nevada mineral properties.
  • Other mineral property investigations.
  • General working capital.
• Finder Fees: Paid to Canaccord Genuity Corp., consisting of:
  • $31,500 in cash.
  • 630,000 finder warrants.
• Finder Warrant Terms: Exercisable at $0.075 per share for a period of three years from the closing date.
• Investor Eligibility: Accredited investors and individuals qualifying under certain statutory exemptions.
• Hold Period: Securities are subject to a statutory hold period expiring March 7, 2026.
• Regulatory Status: Subject to acceptance of the TSX Venture Exchange.