Nippon Dragon Resources Inc. announces shares for debt settlement
Brossard, August 23rd, 2017 - Nippon Dragon Resources Inc. (the "Corporation" or "Nippon") (TSX-V Symbol: NIP), announces that it has entered into a debt settlement agreement with Diagnos Inc., a creditor of the Corporation, to settle a $80,482.50 debt owed, in consideration for the issuance of 1,238,192 common shares of the Corporation at a deemed price of $0.065 per share. The issuance of shares is subject to the approval by the TSX Venture Exchange and, once issued, the shares will be subject to a 4-month and one-day hold period pursuant to all applicable securities laws.
About Nippon
Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds a gold property with resources recognised in accordance with NI43-101 and also an exclusive license for the Thermal Fragmentation mining method.
The company's growth strategy is based on:
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??The development of its gold deposits with the objective of producing revenue from its operations;
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??Increasing the value of its mining assets by prioritizing the exploration targets; and
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??The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations (514) 718-7976 jstella@nippondragon.com
Donald Brisebois, President & CEO (450) 510-4442 dbrisebois@nippondragon.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.nippondragon.com
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