Nevada Sunrise Gold Corp. Announces Amendment to Convertible Loan Agreement
25.01.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Jan. 25, 2012) - Nevada Sunrise Gold Corporation ("Nevada Sunrise" or the "Company") (TSX VENTURE:NEV) announces that, further to the convertible loan agreement (the "Loan Agreement") in the amount of USD$500,000 (the "Loan") announced March 23, 2010, and the convertible loan amendment (the "Amendment") in the amount of USD $400,000 announced April 1, 2011, the Company has executed a second amendment (the "Second Amendment") to the Loan Agreement. Under the terms of the Second Amendment, the amount of USD$290,000 will be owed by the Company following repayment (at $50,000 per months of January, February and March) of USD$110,000 principal and USD$40,000 as payment of all interest in full in respect of the Loan as of March 25, 2012. The term of the Loan has been extended by 24 months to a total of 36 months, expiring March 25, 2013. The Loan may be pre-paid in advance by the Company without penalty. Upon prior notice to the Company, the Loan is convertible into units of the Company at a deemed price of $0.07 per unit, each unit consisting of one share and one-half of a warrant, each whole warrant entitling the holder to acquire an additional common share at $0.12, exercisable until March 25, 2013. The Loan will continue to bear simple interest of 10%, payable upon the earlier of maturity or conversion.About Nevada Sunrise
For details on the Company, its properties, management team and philosophy, please visit our website at www.nevadasunrise.com.
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 of accuracy of this release.
Contact Information
Nevada Sunrise Gold Corporation
William B. Henderson
President and Chief Executive Officer
(530) 887-9901
(530) 884-3822 (FAX)
info@nevadasunrise.com
www.nevadasunrise.com