Business
NV Gold Announces Private Placement of up to CDN$980,000
"Not For Distribution to U.S. News Wire Services or for Dissemination in the U.S." VANCO...
About this update from Nv Gold Corporation
[{"type":"text","content":"NV Gold Announces Private Placement of up to CDN$980,000\"Not For Distribution to U.S. News Wire Services or for Dissemination in the U.S.\"VANCOUVER, BC / ACCESSWIRE / May 11, 2020 / NV Gold Corporation (TSX.V:NVX)(OTC PINK:NVGLF) (\"NV Gold\" or the \"Company\") is pleased to announce a non-brokered private placement of units of the Company for gross proceeds of up to CDN$980,000 (the \"Placement\").\"It will be a busy season in Nevada for NV Gold during 2020, as we initiate our spring/summer exploration program, commencing at the Slumber Gold Project,\" commented Peter A. Ball, President and CEO of NV Gold. \"We welcome the strong interest and investment into the private placement from GoldSpot Discoveries Corp., a mining-focused technology and investment company that is working with some of the leading exploration and mining names in the industry.\"The Placement is an offering of up to 7,000,000 units (the \"Units\") at CDN$0.14 per Unit. Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.20 per share for 24 months from issue of the Units. A finder's fee is payable on subscriptions by certain of the subscribers of 7% of the cash proceeds paid by such subscribers and warrants to purchase 7% of the number shares issuable to such subscribers in respect of their subscriptions for Units.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 advancement of existing properties, potential acquisition of new properties, and for general working capital. All securities issued under the placements will be subject to a four month hold period from the date of issue in accordance with applicable securities laws. The financing, announced on February 26th, 2020, was cancelled.The Company also wishes to announce that is has cancelled its Letter of Intent with option to acquire the Silver District Project in Arizona from Magellan Gold Corp. Please refer to the Company's news release dated January 13, 2020.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not ...