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NevGold Announces Shares-For-Debt Agreements
Vancouver, British Columbia, Sept. 21, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased
About this update from Nevgold Corp
[{"type":"text","content":" Vancouver, British Columbia, Sept. 21, 2023 (GLOBE NEWSWIRE) -- NevGold Corp. (“NevGold” or the “Company”) (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that it has entered into two debt settlement agreements dated September 21, 2023 to settle outstanding debt in the amount of C$169,580 (the “Debt”) owing to two arm’s-length creditors, by issuing an aggregate of 403,761 common shares in the capital of the Company (the “Common Shares”) at a price of $0.42 per Common Share (the “Shares-for-Debt Transaction”), reflecting a plus 50% premium to the current NevGold share price, to the creditors. The NevGold Board of Directors has determined that it is in the best interests of the Company to settle the outstanding Debt by the issuance of Common Shares at a significant premium to market in order to preserve the Company’s cash for ongoing operations. Closing of the Shares-for-Debt Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange. The Company intends to close the Shares-for-Debt Transaction as soon as practicable. The Common Shares to be issued pursuant to the Shares-for-Debt Transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance. ON BEHALF OF THE BOARD “Signed” Brandon Bonifacio, President & CEO For further information, please contact Brandon Bonifacio at [email protected], call 604-337-5033, or visit our website at www.nev-gold.com. About the CompanyNevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and has an option to acquire 100% of the Nutmeg Mountain gold project in Idaho. Please follow @NevGoldCorp on Twitter, Facebook, LinkedIn, Instagram, and YouTube. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Statements This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “pro...