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NV Gold Announces Closing of First Tranche of Private Placement
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About this update from Nv Gold Corporation
[{"type":"text","content":"NV Gold Announces Closing of First Tranche of Private PlacementNot for distribution to United States newswire services or for dissemination in the United States VANCOUVER, BC / ACCESS Newswire / November 6, 2025 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) (\"NV Gold\" or the \"Company\") is pleased to announce that it has closed the first tranche (the \"First Tranche\") of its non-brokered private placement (the \"Private Placement\") as previously announced in the Company's news release dated October 22, 2025. The Company intends to close a second tranche of the Private Placement in the coming weeks under the same terms.In connection with the First Tranche, NV Gold issued 3,423,330 units (each, a \"Unit\") at a price of $0.18 per Unit for aggregate gross proceeds of $616,199. Each Unit consists of one common share in the capital of the Company (each, a \"Common Share\")and one non-transferable Common Share purchase warrant (each, a \"Warrant\"). Each Warrant is exercisable into one Common Share at a price of $0.40 per Common Share for a period of 24 months from the date of issuance.The Company intends to use the proceeds of the First Tranche for exploration at the Company's Slumber Gold Project and for working capital and general corporate purposes.All securities issued pursuant to the First Tranche will be subject to a statutory hold period of four months plus one day from the date of issuance, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. No finder's fees were paid in connection with the First Tranche.The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities distributed in the First Tranche nor the consideration received for those securities, in so far as the First Tranche involves such insiders, exceeds 25% of the Company's market capitalization.Certain insiders of the Company purchased an aggregate of 3,190,000 Units under the First Tranche, constituting, to that extent, a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company has completed the First Tranche in reliance on exemptions available under MI ...