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Nevada Sunrise Signs Letter of Intent for the Sale of Water Rights in Clayton Valley, Nevada
Nevada Sunrise Signs Letter of Intent for the Sale of Water Rights in Clayton Valley, Nev...
About this update from Century Lithium Corp
[{"type":"text","content":"\n \n \n \n Nevada Sunrise Signs Letter of Intent for the Sale of Water Rights in Clayton Valley, Nevada\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX Venture Exchange: NEV\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n May 10, 2021\n \n /CNW/ -\n \n Nevada Sunrise Gold Corp. (\"Nevada Sunrise\",\n \n or the \"\n \n Company\n \n \") (TSXV: NEV) (OTC: NVSGF) is pleased to announce that it has entered into a binding letter of intent (the \"LOI\") with Cypress Development Corp. of\n \n Vancouver, BC\n \n ,\n \n Canada\n \n (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (\"Cypress\") for the sale to Cypress of its water rights in Clayton Valley,\n \n Nevada\n \n (the \"Transaction\"). The Transaction is pursuant to the terms of the LOI and is a major milestone for Cypress' Clayton Valley Lithium Project, near Silver Peak,\n \n Nevada\n \n .\n \n \n \n \n \n \n \n \n \n \n Terms of the LOI\n \n \n \n The LOI outlines terms for the sale of the Company's water rights to Cypress in exchange for\n \n US$3.0 million\n \n to be paid in a combination of cash and Cypress shares. The Transaction is anticipated to close in the Third Quarter of 2021 after completion of due diligence by Cypress and the receipt of all necessary regulatory and other approvals, including TSX Venture Exchange acceptance, that are customary for a Transaction of this nature. Cypress will pay Nevada Sunrise a non-refundable deposit of\n \n US$25,000\n \n upon execution of the LOI, to be followed by a\n \n US$125,000\n \n payment upon completion of a 45-day due diligence period and the execution between the parties of a definit...