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NV Gold Arranges Private Placement of Up to CDN$3,000,000
"Not for Distribution to the U.S. News Wire Services or for Dissemination in the U.S." V...
About this update from Nv Gold Corporation
[{"type":"text","content":"NV Gold Arranges Private Placement of Up to CDN$3,000,000\"Not for Distribution to the U.S. News Wire Services or for Dissemination in the U.S.\"VANCOUVER, BC / ACCESSWIRE / August 4, 2020 / NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) (\"NV Gold\" or the \"Company\") is pleased to announce that the Company has arranged subscriptions for a non-brokered private placement of units of the Company for gross proceeds in excess of CDN$2,500,000 and may accept subscriptions for up to CDN$3,000,000 (the \"Placement\").\"We are excited about our upcoming fall exploration programs, both in Nevada at our Sandy and Slumber Gold Projects, and at the optioned high-grade Exodus Gold Project in British Columbia,\" commented Peter A. Ball, President and CEO of NV Gold. \"NV Gold continues to receive significant interest from multiple new investors related to the upcoming exploration program at the Exodus Gold Project, and also our plans for a busy fall season in Nevada. With our existing cash balance, and the funds from this financing, NV Gold will be funded for our planned activities well into 2021. In addition, NV Gold has outstanding in-the-money share purchase warrants, that could yield proceeds if exercised of approximately CDN$1.8 million. NV Gold, being armed with a strong treasury and very prospective and drill-ready gold projects, is well positioned to benefit from the strong gold market as it continues to move towards USD$2,000/oz, or beyond.\"The Placement is an offering of up to 9,375,000 units (the \"Units\") at CDN$0.32 per Unit. Each Unit consists of one share and one-half of one share purchase warrant exercisable at CDN$0.40 per share for 24 months from issue of the Units. A finder's fee is payable on subscriptions by certain 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.This news re...