Nippon Dragon Resources, Inc. (OTCQBL RCCMF) is engaged as a Canadian gold mining and exploration company. Shares of the gold miner are surging 21.95%, through afternoon trading on Monday, August 28, 2017. Over the past month, Nippon Dragon Resources, Inc. has seen average daily volume of 33,881 shares. However, volume of 132,000 shares or dollar volume of $6,600, has already exchanged hands today.
Shares of Nippon Dragon Resources, Inc. are rallying today, after the company recently announced it had entered into a debt settlement agreement with Diagnos, Inc., a creditor of the company. This settlement deal features $80,482.50 in debt owed swapped for 1,238,192 shares of common stock with a deemed price of $0.065 per share. Here is the full press release detailing of the debt settlement agreement:
Nippon Dragon Resources, Inc. Press Release:
Brossard (Quebec) / TheNewswire / 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.
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:
- The development of its gold deposits with the objective of producing revenue from its operations;
- Increasing the value of its mining assets by prioritizing the exploration targets; and
- The commercialisation and employment of its thermal fragmentation technology.
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.