VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 11, 2017) - NV Gold Corporation (TSX VENTURE:NVX) (the "Company") announced today that it has closed on a second and final tranche of subscriptions for 177,000 Units at CDN$0.35 per Unit of the non-brokered private placement of Units of the Company originally announced on June 20, 2017, and increased on June 27, 2017, for gross proceeds of CDN$61,950. The Company raised total proceeds of CDN$1,377,800 under the two tranches of its private placement (the "Placement").
Each Unit issued in the second tranche consists of one Share and one-half of one Warrant exercisable at CDN$0.50 per share until July 10, 2019. The expiry date of each whole Warrant is subject to acceleration such that, should the volume weighted average price of the common shares of the Company exceed CDN$1.00 for ten consecutive trading days, the Company may notify the holder in writing that the Warrants will expire 20 trading days from receipt of such notice unless exercised by the holder before such date. The Units issued in the second tranche and any shares of the Company issued on exercise of the Warrants forming part of the Units are subject to a hold period expiring on November 11, 2017.
The proceeds of the Placement will be used by the Company for the acquisition and advancement of new properties and existing properties of the Company and for general working capital. The Company must pay finder's fees totaling CDN$1,887 in respect of subscriptions under the second tranche of the Placement.
About NV Gold Corporation
NV Gold is junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries utilizing the prospector generator model. Leveraging its highly experienced in-house technical knowledge, NV Gold's geological team intends to use its geological database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business.
