NexGold Announces C$110 Million Bought Deal Private Placement of Units and Flow Through Shares

Executive Summary

• NexGold Mining Corp. announced a bought‑deal private placement of 69,445,000 units at C$1.44 per unit (gross proceeds ≈ C$100.0 M) and 6,330,000 flow‑through shares at C$1.58 each (gross proceeds ≈ C$10.0 M).
• Each unit consists of one common share and one warrant exercisable for a year‑and‑a‑half at C$1.92 per share; the underwriters have a 15% overallotment option.
• Net proceeds will fund development of the Goldboro open‑pit gold project and general corporate working capital, while flow‑through proceeds are earmarked for Canadian exploration expenses qualifying as tax‑deductible mining expenditures.

Key Details

• Units Offered: 69,445,000 units @ C$1.44/unit → C$100,000,800 gross proceeds.
• Flow‑Through Shares: 6,330,000 FT shares @ C$1.58/share → C$10,001,400 gross proceeds.
• Unit Composition: 1 common share + 1 common share purchase warrant per unit.
• Warrant Terms: Exercise price C$1.92; exercisable for 24 months from closing; possible acceleration if TSXV price exceeds exercise price for ≥20 consecutive trading days after the 15‑month anniversary, with a 10‑day notice period and expiry 30 days thereafter.
• Underwriters’ Option: Up to an additional 15% of the offering size in units, exercisable up to 48 hours before closing at the same price (C$1.44).
• Use of Proceeds – Units: Development expenditures for the Goldboro open‑pit gold project and general corporate/working capital purposes.
• Use of Proceeds – FT Shares: Canadian exploration expenses qualifying as flow‑through mining expenditures, to be incurred on or before 31 Dec 2026.
• Closing Date: Expected on or about 31 Oct 2025 (subject to regulatory approvals, including TSXV conditional approval).
• Holding Period: Securities subject to a four‑month plus one‑day hold period under Canadian securities law.
• Insider Participation: Anticipated; will be treated as a related‑party transaction under MI 61‑101 but not expected to trigger minority‑shareholder approval because the fair market value does not exceed 25% of market cap.
• Lead Underwriter/Bookrunner: National Bank Financial Inc., acting for a syndicate of underwriters.

Notable Quotes

(No direct quotes were provided in the release.)