OAKVILLE, Ontario, Nov. 24, 2014 /PRNewswire/ -- Sarissa Resources Inc. ("Sarissa" [SRSR:OTCPK], or the "Company") is pleased to announce that its auditor, Ross Pope LLP., has completed its audit of the 2013 and 2012 financial statements of the Company's wholly owned subsidiary, Nio-Star Corp. ("Nio-Star"). This audit was conducted in connection with the Company's previously announced plans to pursue an independent public listing of Nio-Star Corp., and spinout of Nio-Star Corp. to Sarissa's shareholders.
The audit that was conducted and completed related to the financial Statements for Nio-Star Corp. for the years ending December 31, 2013 and December 31, 2012. An audit of the financial statements for that company for the year ended December 31, 2011 had previously been completed by Ross Pope LLP. Copies of the financial statements and audit report thereon will be filed on the Company's website (www.sarissaresources.com) under the "INVESTORS" section.
"The completion of these audited Nio-Star financial statements marks another important step towards completing the Company's recently announced development plan. It is gratifying to see the pieces of the Company's development plan being accomplished so quickly," said Scott Keevil, Chief Executive Officer of Sarissa.
"The company continues to execute its previously announced development plan for its Nio-Star subsidiary's Nemegosenda Niobium property. This is a very exciting time in the development timeline of this project. These audits, along with the upcoming updated resource calculation being completed to NI 43-101 standards, will allow us to move ahead with an application for an independent listing of the Company's Nio-Star subsidiary, and ultimately to the spinout of that subsidiary to Sarissa shareholders," said Dan Byrnes, President of Sarissa.
About Sarissa Resources Inc.
Sarissa Resources Inc. is a junior exploration company with interests in properties in Northern Ontario, Canada. Sarissa and Nio-Star are specifically focused on the development of the Nemegosenda niobium project as well as the Shining Tree Resources Corp. gold projects. Visit www.sarissaresources.com for additional information.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources Inc. and Nio-Star Corp., as well as members of their respective management, in addition to the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of financial results and positions, the ability to compete successfully and the ability to complete above-referenced exploration and testing, as well as business transactions. Neither Sarissa nor Nio-Star undertakes any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.