Sarissa Resources Inc. (SRSR) announced the election of Dino Micacchi and Ben Fuschino to its Board of Directors during a Special Meeting of Shareholders on April 1, 2021. This follows an order by the Eighth Judicial District Court of Clark County from November 11, 2020. Effective March 29, 2021, all previous officers were removed, with Fuschino appointed as President and CEO, and Micacchi as CFO and Treasurer. The company has relocated its Head Office to Woodstock, Ontario, Canada.
Sarissa Resources Inc. (OTC-Pink: SRSR) announced that its subsidiary, Nio-Star Corp, failed to cure a default on a Convertible Note from RP Capital Group Inc., which was officially served on March 17, 2021. Nio-Star was required to repay $C384,058.51 within five days but could not secure necessary funding. As a result, on March 23, 2021, Nio-Star transferred all its assets, including patented land and mining leases, to RD Volusia LLC. The Nio-Star Board indicated that RD Volusia may renegotiate depending on the outcomes of the upcoming shareholder meeting.
Sarissa Resources Inc. (OTC: SRSR) announced that its subsidiary Nio-Star Corp received a Notice of Default on March 17, 2021, from RD Volusia LLC regarding a Convertible Note issued on August 19, 2017. Nio-Star must resolve a default of $C384,058.51 within five days to avoid foreclosure on its Secured Property, including patented land and mining leases. Alternatively, failure to comply could lead to RD Volusia acquiring 51% of Nio-Star's stock, reducing Sarissa's control over the subsidiary. Further updates will be provided before the March 22 deadline.