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VANCOUVER, BC / ACCESSWIRE / September 4, 2024 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") announced today that it intends to undertake a non-brokered private placement (the "Private Placement") for gross proceeds of up to $500,000 comprising of 2,000,000 units (each, a "Unit") at a price of $0.20 per Unit. Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable into one Common Share at a price of $0.30 per Warrant for a period of two years from the date of issuance, subject to an acceleration provision should the Company's Common Shares have a closing price of $0.45 per Common Share for a period of 10 consecutive trading days.
In connection with the Private Placement, the Company may pay a finder's fee within the maximum amount permitted by the policies of the TSX Venture Exchange. The Private Placement may close in multiple tranches as subscriptions are received.
Closing of the Private Placement is subject to certain customary corporate and regulatory approvals, including, without limitation, approval of the TSX Venture Exchange. The securities to be issued under the Private Placement will be offered pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Securities issued under the Private Placement will be subject to a hold period which will expire four months and one day from the date of closing of the Private Placement. The Private Placement will be available under the accredited investor exemption as well as the existing shareholder exemption.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Company intends to use the proceeds to advance the exploration of its wholly owned exploration properties in Nevada and for general and administration expenses.
About NV Gold Corporation
NV Gold owns 100% interest in 21 mineral exploration projects in Nevada, USA, comprising 639 mining claims totalling 53.4 square kilometers (20.6 square miles). The Company is based in Vancouver, British Columbia, and is focused on delivering value through mineral discoveries in Nevada. Leveraging its expansive property portfolio, its highly experienced in-house technical team, its extensive geological data library, and the recent increase in the price of gold, 2024 is expected to be highly productive for NV Gold.