NSGold Corporation (TSXV:NSX) (“NSGold” or the “Company”) has closed its previously-announced non-brokered private placement by raising gross proceeds of $100,000 through the issuance of 1,000,000 units at a price of $0.10 per unit. Each unit comprises one common share of the Company and one-half common share purchase warrant. Each full warrant entitles the holder to acquire one common share of the Company for $0.15 for a period of 18 months from the closing date. The common shares and warrants issued pursuant to the private placement are subject to a 4-month hold period that expires on April 3, 2017.
NSGold will use the proceeds from the private placement for exploration on its resource properties in Nova Scotia and for general working capital purposes. The private placement remains subject to final acceptance by the TSX Venture Exchange.
NSGold’s largest shareholder, Van Hoof Industrial Holdings Ltd. (“VHIH”), subscribed for 450,000 units in the private placement. Hans van Hoof, Chief Executive Officer and Chairman of NSGold, is Chairman and Chief Executive Officer of VHIH.
