TORONTO, ON / ACCESSWIRE / June 29, 2017 / Sarissa Resources Inc. (OTC PINK: SRSR) (Sarissa or the Company), announces a Letter of Intent with RP Capital Group Inc. to become its partner in the development of the Nemegosenda specialty metals (niobium) and rare earth project with Nio-Star Corporation (Nio-Star), a Canadian subsidiary of Sarissa.
RP Capital Group Inc. is an international investment firm based in Montreal, Canada. Its Chairman, Ronald A. Potts has orchestrated numerous private equity transactions and has decades of experience in the international arena. Prior to his current role, Mr. Potts was active in the wealth management Business in North America and also the Executive Chairman of Nihon Global Advisors, a large Family Office and Real Estate firm. Mr. Potts has over 40 years experience in the investment industry including Vice President and Director of RBC Capital Markets. Specializing in investment opportunities and sourcing capital, Mr. Potts has raised over $4 billion for numerous projects. Mr. Potts holds a B.A. in Economics from the University of Western Ontario and also completed an SIA program at The Wharton School of the University of Pennsylvania.
The Letter of Intent outlines the agreement in which RP Capital Group Inc., will make an immediate initial investment of $C250,000 into Nio-Star as well as provide investment banking, capital markets, executive recruiting, legal and other business services as well as raise additional capital up to $C25,000,000 as project milestones are met. RP Capital Group Inc’s investment will be in the form of a Secured Convertible Loan which will convert to a 35% stake in the Nemegosenda project.
Dan Byrnes, President, stated, “The addition of RP Capital Group to the Nemegosenda project is the game changing event we have been working to secure for the company. The project will now have availability to the business and mining expertise as well as the capital necessary to rapidly move the project forward. We will immediately begin the geological and processing work that is required to further de-risk the project. Contracts with vendors to perform this work have already been signed and work will begin immediately. I look forward to providing additional details of the work being implemented, our team of geological and mining experts who are advising the company, and our future business plans in the coming days and weeks.”
Otto Pichler, Director, said, “We are very pleased to have RP Capital Group as our partners in this project. Their expertise, connections, and capital are the missing ingredient which will allow for our future success. I am eager to see the advice and hard work of our team of mining experts over the past couple of months become reality as we engage world class geological vendors to carry out this initial project work which is expected to significantly further de-risk the project and provide a path for further mine development.
Ronald Potts, Chairman of RP Capital Group added, “We are extremely pleased to be involved in the Nemegosenda project. This project is uniquely suited to impact the need for diversity of supply in the global Niobium business. According to industry sources, global demand for niobium is expected to continue to grow significantly and with only 3 significant existing producers in the world, there is a growing concern about diversity of supply. RP Capital Group is well positioned to provide the necessary expertise and capital to make this project a long-term success.”
About Sarissa Resources Inc.
Sarissa Resources Inc. is a mining development company with interests in properties in Northern Ontario, Canada. Sarissa and Nio-Star are specifically focused on the development of the Nemegosenda niobium project.
For further information contact:
Sarissa Resources Inc.
Telephone: +1-702-550-2347
Email: [email protected]
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.
SOURCE: Sarissa Resources Inc.