SHARE CAPITAL
Authorized: Unlimited Common shares, without par value
2010 2009
Issued:
1 Common share $ 200 $ 200
11. RELATED PARTY TRANSACTIONS
2010 2009
f) Included in loans and advances is $135,188 (2009 - $453,053) which are due to significant
Shareholders of Sarissa Resources Inc. They are related to the President and the General
contractor. These amounts are interest free and have no fixed terms of repayment
g) The amounts due to Sarissa Resources Inc. is $1,443,833 (2009 - $ 489,657) These
amounts are interest free and have no fixed terms of repayment.
h) (i) During 2010 Sarissa Resources Inc. issued 38,254,616 (2009 – 31,881,772) common
shares at an issue price of US$1,358,569 - CDN$1,323,231) (2009 - US$719,341 – CDN
$754,841) to settle debts incurred by Nio Star Corp. These amounts included 19,917,747
(2009 – 23,145,384) common shares at an issue price of $ 1,034,885 (2009 - $707,130) in
settlement of loans, advances exploration work charged or incurred by related parties.
These transactions were in the normal course of operations and were measured at the exchange
amount, which is the, amount of consideration established and agreed to by the related parties
(i) During 2010 Sarissa Resources Inc. issued 38,254,616 (2009 – 31,881,772) common
shares at an issue price of US$1,358,569 - CDN$1,323,231) (2009 - US$719,341 – CDN
$754,841) to settle debts incurred by Nio Star Corp. These amounts included 19,917,747
(2009 – 23,145,384) common shares at an issue price of $ 1,034,885 (2009 - $707,130) in
settlement of loans, advances exploration work charged or incurred by related parties.
These transactions were in the normal course of operations and were measured at the exchange
amount, which is the, amount of consideration established and agreed to by the related parties.
15. SUBSEQUENT EVENTS
$90,000 has been paid in respect of obligations its mining claims purchased under option
agreements referred to in note 3 and 7. The registered security interest against the property on the
“Rapski” claims has been paid and discharged.
On February 9, 2011 the Parent Company completed a private placement and issued 5,700,000
common shares at a price of $0.02 per share and received $114,000(US Currency). The money was
transferred to Nio-Star Corp.
On April 8, 2011 the Parent Company completed a private placement and issued 7,700,000 common
shares at a price of $0.02 per share and received $154,000(US Currency). The money was
transferred to Nio-Star Corp.
On April 21, 2011 the Parent Company completed a private placement and issued 5,500,000
common shares at a price of $0.02 per share and received $100,000(US Currency). The money was
transferred to Nio-Star Corp.
AI
