Notice of Default for Nio-Star Corp.
Toronto,
Canada -- March 18, 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
served with a Notice
of Default on March 17, 2021,
from RD Volusia LLC ("RD Volusia") an assignor of the
Convertible Note issued to RP Capital
Group Inc., on August 19, 2017
and announced in a press release on August 21, 2017.
Nio-Star
has five (5) days to cure the default in the amount
of $C384,058.51.
RD
Volusia has indicated that unless the
company complies with its obligations to either repay the amount
due and payable or voluntarily convey the Secured Property as
called for in the terms of the Convertible Note,
it
will
proceed
to foreclose on the Secured
Property based on its first lien
which was
given as part of the conditions of closing
the
Convertible
Note and securing the
$C250,000.00
of
financing.
The
Secured Property of Nio-Star
entails
all assets of Nio-Star including the
patented land and mining
leases.
Alternatively, RD
Volusia has the right to
force Nio-Star to issue common shares resulting in RD Volusia
owning 51% of Nio-Star stock and thereby
having a control position in Nio-Star, which
would therefore no longer be a wholly-owned subsidiary of Sarissa
Resources Inc.
Nio-Star's board is
working diligently to resolve this issue prior to the deadline
on March 22, 2021 and
will update shareholders
on further developments 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.
