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NV Gold to Arrange a Private Placement of up to CDN$750,000
Not for Distribution to U.S. News Wire Services or for Dissemination in the U.S. VANCOUV...
About this update from Nv Gold Corporation
[{"type":"text","content":"NV Gold to Arrange a Private Placement of up to CDN$750,000Not for Distribution to U.S. News Wire Services or for Dissemination in the U.S.VANCOUVER, BC / ACCESSWIRE / February 26, 2020 / NV Gold Corporation (TSXV:NVX)(OTC:NVGLF) (\"NV Gold\" or the \"Company\") is pleased to announce a non-brokered private placement of units of the NV Gold for gross proceeds of up to CDN$750,000 (the \"Placement\").\"After completing our geological models over the winter on priority projects to advance in 2020, we are pleased to be launching our spring exploration programs in Nevada over the next few weeks, commencing at the Slumber Gold Project. Our follow-up geophysical and drilling program planned for Slumber will be exciting, based on the positive results and modelling from the 2019 drilling program, which has identified a potential promising gold system at depth,\" commented Peter A. Ball, President and CEO of NV Gold. \"We are also currently reviewing our Sandy Gold Project for its first exploration season during the summer of 2020, immediately after Slumber. Sandy was acquired in the fall of 2019 for staking costs only from our database, contains multiple historical holes intersecting >1 g/t gold, and is located in a newly active exploration camp, noting recent extensive staking was completed in the same valley by a newly listed gold focused development company. With a robust gold market, a tight share structure, and no debt, we are excited to have a busy exploration season ahead of us.\" The Placement is an offering of up to 6,250,000 units (the \"Units\") at CDN$0.12 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.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 Stat...