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NevGold Announces C$1 Million Non-Brokered Private Placement Financing
Vancouver, British Columbia, July 26, 2022 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased t
About this update from Nevgold Corp
[{"type":"text","content":" Vancouver, British Columbia, July 26, 2022 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce a non-brokered private placement financing of flow-through units (the “FT Units”) at a price of C$0.65 to raise proceeds of approximately C$1M. NevGold CEO, Brandon Bonifacio, comments: “The C$1M flow-through financing at an approximate 20% premium to market will limit dilution and ensures the hard dollars the company has raised to date can be laser focused on our Western USA projects including Nutmeg Mountain and Limousine Butte. Our Ptarmigan project in BC is a very prospective, high-grade silver-gold-copper-lead-zinc project with significant historical work to leverage including 14,000 meters of core drilling, geophysical and geochemical analysis, and metallurgical testwork. We have completed a robust data interpretation process over the past 12 months, and we have identified a number of high-grade drill targets within the large 93 km2 land package. Our goal is to conduct a meaningful field program over the next 6 to 12 months to daylight the value of a project that gets zero value ascribed in our current project portfolio. It is important to note this flow-through financing does not change the commitment with GoldMining of the up to C$1.25M hard dollar lead order in a future financing, which provides NevGold with ample flexibility. With treasury and the recently closed first tranche of C$1M with GoldMining on July 5, and the potential flow-through raise of C$1M, the company is well-funded to continue to further advance our projects. This also removes any near-term financing requirements, which is a favorable position to be in considering the current market conditions and that we are also expecting further assays shortly from the drill program at our Limousine Butte project in Nevada.” The Offered Units will be offered pursuant to exemptions from the prospectus requirements to residents of the Provinces of British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and such other Canadian jurisdictions as may be agreed to by the Company. Each Offered Unit shall consist of one flow-through common share and one half of one transferable non-flow-through common share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each Warrant will ...