Nio-Star Corp., Conveys
Secured Property
March
24,
2021
Toronto,
Ontario, Canada -- March 24, 2021 -- InvestorsHub NewsWire
-- Sarissa Resources
Inc. (OTC
Markets: Pink SRSR) ("Sarissa" or the "Company") is advising
its shareholders that the Company's Nio-Star Corp
("Nio-Star") subsidiary
was not successful in curing the
default
on the Convertible Note issued to RP Capital Group
Inc.
Official
notice of that default was served
on
March
17,
2021
by
RD
Volusia LLC ("RD Volusia") an assignor of the
Convertible Note issued to RP Capital Group Inc. As a
result, on March
18, 2021, the
Company announced
the
default and the notice of such default in a press
release. Pursuant to the terms
of the Convertible Note and the default notice, Nio-Star had 5 days
to cure the
default.
Nio-Star was unable to
secure the capital required to repay the required
$C384,058.51
or
negotiate an alternative solution prior to
the
five
day deadline. On
March
23, 2021, Nio-Star
conveyed the Secured Property to RD Volusia as required as a
condition
of the terms of
the Convertible
Note. The Secured
Property of Nio-Star entails all assets of Nio-Star including
the patented land and
mining leases.
The
Nio-Star Board stated "While this outcome
was not what we hoped for, during negotiations RD Volusia has
indicated that while it has already taken possession
of the
Secured Property of Nio-Star, it is
open to
renegotiating with the board of
Nio-Star depending on
the outcome of the upcoming Sarissa shareholder meeting. RD
Volusia
has made it clear
that it
will not renegotiate a potentially more favorable outcome for
Sarissa shareholders, if the
shareholders vote to
elect the directors put forth
by Mr. Currah, et.al., to the board of Sarissa at the
upcoming
shareholder meeting due to
a history
of securities
fraud charges and
settlements
as well as allegations of securities fraud while previously
involved with Sarissa which are
pending
in Ontario Superior Court."
Nio-Star's board will
continue to provide updates as further developments occur
in this
matter.
About
Sarissa Resources Inc.
Sarissa Resources
Inc. is a mining development company presently focuses on
developing the Nemegosenda Niobium
project through its Nio-Star Corp., subsidiary.
For further
information contact:
Sarissa
Resources Inc.
Telephone:
+1-702-550-2347
Email:IR.SarissaResources@gmail.com
Forward-Looking Statements Certain statements in this press
release may be considered forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements may include
projections of matters that affect revenue, operating expenses
or net earnings; projections of growth; and assumptions
relating to the foregoing. Such forward-looking statements
are generally qualified by terms such as plans, anticipates,
expects, believes or similar words of like kind.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or
qualified. Future events and actual results could differ materially
from those set forth in, contemplated by or underlying the
forward-looking information. These factors are discussed in
greater detail in the Company's business plan and filings with the
OTC Markets.
