Mr. Peter Ball reports
NV GOLD CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT
NV Gold Corp. has closed its non-brokered private placement of $1,060,224.
"We are pleased to complete a quick and oversubscribed private placement, and also see our management and board members purchase approximately 27 per cent of the financing. We are also excited to highlight our exploration plans in the next couple of weeks, get boots on the ground soon after, and have the drill rigs turning before summer," commented Peter A. Ball, president and chief operating officer of NV Gold.
The company sold 8,835,199 units at 12 cents per unit. Each unit consists of one share and one-half of one warrant, each whole warrant exercisable to acquire one common share at 20 cents per share until Sept. 27, 2021.
Management and directors of NV Gold purchased 2,353,500 or almost 27 per cent of the private placement.
The proceeds of the placement will be used by the company for the advancement of existing properties, potential acquisition new properties, and for general working capital. The company paid finder's fees totalling $39,060 and issued 325,500 finder's warrants in respect of subscriptions under the private placement. Each finder's warrant is exercisable to acquire one common share at 20 cents per share until Sept. 27, 2021.
The common shares forming part of the units and any shares issued upon exercise of the warrants or the finder's warrants are subject to a hold period which expires on July 28, 2019.
About NV Gold Corp.
NV Gold is a junior exploration company based in Vancouver, B.C., that is focused on delivering value through mineral discoveries. Leveraging its in-house technical knowledge, NV Gold's geological team intends to utilize its geological databases, which contain a treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.
We seek Safe Harbor.
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