NV Gold plans private placement to raise up to $1.4M CAD

NV Gold Corporation (TSXV: NVX)(OTCQB: NVGLF)(FSE: 8NV) announced a non-brokered private placement seeking gross proceeds of up to $1,400,000 CAD through the issuance of up to 3,500,000 units priced at $0.40 per unit.

Each unit consists of one common share and one half of one transferable common share purchase warrant. Two half warrants combine to form one whole warrant, exercisable at $0.80 per share and expiring two years from the issuance date.

The company said proceeds are intended for a planned drill program and general working capital. A finder's fee of 6% may be payable on portions of the offering, and insiders may participate.

Securities issued under the offering will be subject to a statutory hold period expiring four months and one day after closing. The offering remains subject to approval by the TSX Venture Exchange. Any insider participation would constitute a related party transaction under Multilateral Instrument 61-101, though the company expects it to qualify for exemptions from formal valuation and minority shareholder approval requirements.

NV Gold is a Vancouver, British Columbia-based mineral exploration company focused on projects in Nevada, with approximately 32.4 million shares issued and no debt. The information in this article is based on a company press release.

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