NV Gold Announces Closing of First Tranche of Private Placement

Executive Summary

• NV Gold Corporation closed the first tranche of its non‑brokered private placement, issuing 3,423,330 units at $0.18 each for gross proceeds of $616,199.
• Each unit consists of one common share and one non‑transferable warrant exercisable at $0.40 per share for 24 months.
• Proceeds are earmarked for exploration at the Slumber Gold Project and for general working capital.

Key Details

• Units Issued: 3,423,330 (each = 1 common share + 1 warrant)
• Price per Unit: $0.18
• Aggregate Gross Proceeds: $616,199
• Warrant Terms: Exercisable into one common share at $0.40 per share; valid for 24 months from issuance.
• Use of Proceeds: Exploration activities on the Slumber Gold Project; working capital and general corporate purposes.
• Statutory Hold Period: Four months plus one day from date of issuance, plus any other applicable securities law restrictions.
• Finder’s Fees: None paid in connection with this tranche.
• Related Party Transaction: Insiders purchased 3,190,000 units; disclosed under MI 61‑101 as a related party transaction.
• Early Warning Disclosure – John Watson (President, Chairman, CEO & Director):
• Purchased 3,110,000 units for $559,800.
• Post‑closing beneficial ownership: 13,262,121 common shares, 77,500 stock options, and 6,960,000 warrants (~58.65% undiluted; ~68.46% partially diluted).
• Regulatory Conditions: Final approval of the TSX Venture Exchange required for this tranche and any subsequent tranches.

Notable Quotes

(No direct quotes were provided in the release.)