NV Gold completes private placement raising $645,000

NV Gold Corporation (TSXV:NVX)(OTCQB: NVGLF)(FSE:8NV) announced the completion of its non-brokered private placement, issuing 3,225,000 units at $0.20 per unit for gross proceeds of $645,000.

Each unit consists of one common share and one transferable warrant exercisable at $0.50, expiring two years from issuance. The company holds acceleration rights if shares close above $0.50 for three consecutive trading days after a four-month period, allowing warrant expiry acceleration with 30 days notice.

All securities are subject to a statutory hold period ending four months and one day after closing. The company paid $2,400 in finder's fees to one eligible finder.

The gross proceeds will be used for general working capital, according to the company's statement.

An insider participated in the offering, constituting a related party transaction under Multilateral Instrument 61-101. The transaction is exempt from valuation and minority shareholder approval requirements as the fair market value of shares issued to the related party does not exceed 25% of the company's market capitalization.

NV Gold operates 12 exploration projects in Nevada and one in Switzerland, with three priority projects including Slumber, Triple T and SW Pipe. The Vancouver and Reno-based company has approximately 26.2 million shares outstanding and reports no debt.

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