NV Gold Closes Oversubscribed Private Placement
TSX VENTURE: NVX
VANCOUVER, BC / ACCESSWIRE / March 28, 2019 / NV Gold Corporation (TSX.V: NVX; OTC PINK: NVGLF) ("NV Gold" or the "Company") is pleased to announce that it has closed its non-brokered private placement (see news releases dated March 19th, 2019, March 21, 2019 and March 22, 2019) of $1,060,224 (the "Placement").
"We are pleased to complete a quick and oversubscribed private placement, and also see our management and board members purchase approximately 27% of the financing. We are also excited to highlight our exploration plans in the next couple of weeks, get boots on the ground soon after, and have the drill rigs turning before summer," commented Peter A. Ball, President and COO of NV Gold.
The Company sold 8,835,199 units (the "Units") at CDN$0.12 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$0.20 per share until September 27, 2021.
Management and Directors of NV Gold purchased 2,353,500 or almost 27% of the private placement.
The proceeds of the Placement will be used by the Company for the advancement of existing properties, potential acquisition new properties, and for general working capital. The Company paid finder's fees totaling CDN$39,060 and issued 325,500 finder's warrants in respect of subscriptions under the private placement. Each finder's warrant is exercisable to acquire one common share at CDN$0.20 per share until September 27, 2021.
The common shares forming part of the Units and any shares issued upon exercise of the Warrants or the finder's warrants are subject to a hold period which expires on July 28, 2019.
About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries. Leveraging its highly experienced in-house technical knowledge, NV Gold's geological team intends to utilize its geological databases, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.
On behalf of the Board of Directors,
Peter A. Ball
President and COO
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
Peter A. Ball, President & COO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the proposed uses of such funds and other future plans and objectives of the Company, including exploration plans, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.