pcNewsWire – NV Gold Corporation (TSX-V: NVX) intends to close a non-brokered private placement of up to 2,850,000 units at $0.35 per unit for gross proceeds of up to $997,500.
Proceeds will be used for the acquisition and advancement of new properties and existing properties of the Company and for general working capital.
News Release
NV GOLD ANNOUNCES PRIVATE PLACEMENT OF UP TO CDN$997,500
Vancouver, British Columbia – NV Gold Corporation (TSX.V: NVX) (the “Company”) announced today a non-brokered private placement of units of the Company for gross proceeds of up to CDN$997,500 (the “Placement”).
The Placement is an offering of up to 2,850,000 units (the “Units”) at CDN$0.35 per Unit. Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.50 per share for two years from issue of the Units. The expiry date of each whole Warrant is subject to acceleration such that, should the volume weighted average price of the common shares of the Company exceed CDN$1.00 for ten consecutive trading days, the Company may notify the holder in writing that the Warrants will expire 20 trading days from receipt of such notice unless exercised by the holder before such date.
Closing of the Placement is conditional on acceptance of the TSX Venture Exchange. The proceeds of the Placement will be used by the Company for the acquisition and advancement of new properties and existing properties of the Company and for general working capital.
About NV Gold Corporation
NV Gold is junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries utilizing the prospector generator model. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to use its geological database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business.
On behalf of the Board of Directors,
(sgd.) “John E. Watson”
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. Watson,
Phone: 303.674.9400
Email: john@nvgoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
