Nippon settles debenture held by Desjardins-Innovatech
Brossard (Quebec), December 14th, 2016 Nippon Dragon Resources Inc. (the “Corporation” or “Nippon”) (TSX-V Symbol: NIP), is pleased to announce that it has reached a settlement with Desjardins-Innovatech for the repayment of an outstanding debenture totalling $249,995.00 plus accrued interest of $42,829.41 as of November 30th, 2016. The settlement includes a cash payment of $125,000.00 and the remaining balance of $124,995.00 plus accrued interest of $42,829.41 through the issuance of 2,397,490 common shares of the Corporation priced of $0.07 per share. The common shares issued in connection with the above-mentioned settlement are subject to a four month and one-day hold period from the date of issuance, expiring on April 15th, 2017.
‘Desjardins-Innovatech have always been and remain valued long term partners, Nippon is extremely pleased with their steadfast belief in and support of our thermal fragmentation mining method’, stated Donald Brisebois, president and CEO of Nippon.
Created in 2005 and managed by Desjardins Entreprises Capital régional et coopératif, the Desjardins - Innovatech (DI) fund was formed at the initiative of the Government of Québec and Capital régional et coopératif Desjardins. With commitments of more than $ 65 million in nearly 50 companies and funds, DI's main mission is to promote and support venture capital financing for Quebec companies involved in technological innovation by focusing on the creation of the ‘jewels’ of tomorrow. In order to fulfill its mission, DI partners with other players in the field of technology, thus contributing even more to the promotion of SMEs with a promising future with potential for job creation and economic development. (www.desjardins-innovatech.com)
Nippon is active in the exploration and the development of gold resources in Quebec and Peru. The Corporation holds a gold property with resources recognised in accordance with NI43-101, a modular treatment plant and also an exclusive license for the Thermal Fragmentation mining method for exploiting narrow-vein ore deposits.
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.
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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.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.nippondragon.com