Business
Nevada Exploration Inc. Announces Closing of Oversubscribed Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 12, 2016) - Nevada Exploration Inc. ("NGE" or the "Company") (TSX VENTURE:NGE)(OTCQX:NVDEF) is pleased to annou
About this update from Urz3 Energy Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 12, 2016) - Nevada Exploration Inc. (\"NGE\" or the \"Company\") (TSX VENTURE:NGE)(OTCQX:NVDEF) is pleased to announce that it has closed, subject to final TSX Venture Exchange approval, the non-brokered private placement offering announced on June 23, 2016 (the \"Offering\"), having increased the size of the Offering from 4,285,715 units to 5,000,000 units (the \"Units\") at a price of $0.35 per Unit (the \"Offering\"), for total gross proceeds of $1,750,000. NGE's President James Buskard comments: \"We are very pleased by the strong support we are receiving for our gold exploration program in Nevada. With these funds, we are well positioned to deliver on a comprehensive 2016 exploration program, the highlight of which will be the commissioning of our own truck-mounted small diameter reverse circulation drill rig, which we understand to be the first such rig in Nevada. With its commissioning, we expect to radically reduce the cost of early stage drilling in Nevada, and by continuing to lower the costs of exploring Nevada's highly prospective yet under-explored covered basins, our goal remains to maximize the Company's exposure to the upside of discovering new gold deposits in Nevada.\" Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of $0.60 for a period of 18 months. All securities issued are subject to a four month plus one-day hold period expiring November 13, 2016. Proceeds from the offering will be used to advance NGE's exploration projects, as well as for general working capital. In connection with the Offering, the Company paid finders fees totalling $30,392.25 in cash and 147,600 Units. About Nevada Exploration Inc. NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced management team that has been involved with the discovery of more than 30 million ounces of gold in Nevada. NGE has developed proprietary hydrogeochemistry (groundwater chemistry) exploration technology to explore for gold in Nevada's covered basins where traditional exploration techniques are challenged. NGE is aggressively applying this latest technology in covered deposit exploration to identify, acquire, and advance new ex...