Vancouver, British Columbia – NV Gold Corporation (TSX.V: NVX) (the “Company”) announced today that it is increasing its non-brokered private placement of units of the Company originally announced on June 20, 2017 due to over-subscriptions. The Company now proposes to raise gross proceeds of a maximum of CDN$1,382,500 (the “Placement”).
The Placement is now an offering of up to 3,950,000 units (the “Units”) at CDN$0.35 per Unit. Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.50 per share for two years from issue of the Units. The expiry date of each whole Warrant is subject to acceleration such that, should the volume weighted average price of the common shares of the Company exceed CDN$1.00 for ten consecutive trading days, the Company may notify the holder in writing that the Warrants will expire 20 trading days from receipt of such notice unless exercised by the holder before such date.
Closing of the Placement is conditional on acceptance of the TSX Venture Exchange. The proceeds of the Placement will be used by the Company for the acquisition and advancement of new properties and existing properties of the Company and for general working capital.
The Company has also granted incentive stock options to directors and officers under its Stock Option Plan which entitle them to purchase an aggregate of up to 725,000 common shares of the Company. The stock options are exercisable on or before June 26, 2022 at a price of $0.39 per share.
About NV Gold Corporation
NV Gold is junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries utilizing the prospector generator model. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to use its geological database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to create opportunities for lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business.
On behalf of the Board of Directors,
(sgd.) "John E. Watson"
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. Watson,
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 raising of up to CDN$1,382,500 and the proposed uses of such funds, the potential to create opportunities for lease or joint venture 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.