Business
NV Gold Closes CDN$3,000,200 Non-Brokered Private Placement and Strategic Investment by Crescat Capital LLC
VANCOUVER, BC / ACCESSWIRE / August 24, 2020 / NV Gold Corporation (TSXV:NVX)(OTC PINK:NVG...
About this update from Nv Gold Corporation
[{"type":"text","content":"NV Gold Closes CDN$3,000,200 Non-Brokered Private Placement and Strategic Investment by Crescat Capital LLCVANCOUVER, BC / ACCESSWIRE / August 24, 2020 / NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) (\"NV Gold\" or the \"Company\") is pleased to announce that it has closed the CDN$3,000,200 non-brokered private placement previously announced on August 4th, 2020 (the \"Placement\"). The Company sold 9,375,625 units (the \"Units\") at CDN$0.32 per Unit. Each Unit consists of one Share and one-half of one Warrant, each whole Warrant exercisable to acquire one common share at CDN$0.40 per share until August 21, 2022.\"NV Gold continues to receive strong support from the investment community as we advance our property portfolios in British Columbia and Nevada. The Company is currently executing three concurrent exploration programs at the Exodus, Sandy and Slumber Gold Projects, and expects to announce news on the key catalysts throughout the Fall,\" commented Peter A. Ball, President and CEO of NV Gold. \"We would also like to welcome Crescat Capital LLC as one of the Company's newest large shareholders, alongside existing holders Eric Sprott and NV Gold's Chairman, John Watson.Kevin Smith, Crescat's founder and CIO, said, \"We are enthusiastic about NV Gold's exploration assets in both Nevada and British Columbia and excited to be working with the Company's highly accomplished board of directors and technical team.\"Crescat Capital LLC (\"Crescat\") acquired 3,125,000 Units in the Placement and the Company has granted Crescat a right to participate in future equity financings of the Company to allow it to maintain its pro-rata ownership of the common shares of the Company, for as long as Crescat holds at least 5% of the Company's common Shares. Crescat previously purchased 2,000,000 Units of the Company in its private placement which closed May 26th, 2020, and now holds 5,125,000 common shares of NV Gold, warrants to purchase 2,562,500 common shares.The net proceeds of the Placement will be used by the Company for the advancement of the Exodus, Slumber and Sandy Gold Projects, and for general working capital. The Company paid finder's fees totaling CDN$73,908.80 and issued 230,965 finder's warrants in respect of subscriptions under the private placement. Each finder's warrant is exercisable to acquire one common share at CDN$0.40...