NV Gold plans private placement to raise up to $1 million

NV Gold Corporation (TSXV:NVX)(OTCQB: NVGLF)(FSE:8NV) announced a non-brokered private placement to raise up to $1 million through the issuance of up to 5 million units at $0.20 per unit.

Each unit consists of one common share and one transferable warrant. The warrants are exercisable at $0.50 per share and expire two years from the issuance date. Company insiders may participate in the offering.

Securities issued will be subject to a statutory hold period expiring four months and one day after closing. The offering requires approval from the TSX Venture Exchange.

The company stated it plans to use the gross proceeds for general working capital purposes.

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

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