NV Gold arranges $1-million private placement

Executive Summary

• NV Gold Corp. has announced a non-brokered private placement for gross proceeds of up to $1 million.
• The company will issue up to 5 million units at a price of $0.20 per unit, with each unit comprising one common share and one transferable common share purchase warrant.
• Proceeds are designated for general working capital, and the offering is subject to exchange approval.

Key Details

• Gross Proceeds: Up to $1,000,000.
• Units Issued: Up to 5,000,000 units.
• Price Per Unit: $0.20.
• Warrant Terms: Each unit includes one transferable common share purchase warrant.
  • Exercise Price: $0.50 per share.
  • Expiration: Two years from the issuance date.
• Hold Period: All securities are subject to a statutory hold period of four months and one day after closing.
• Use of Proceeds: General working capital.
• Regulatory Status: Completion is subject to exchange approval. Insider participation constitutes a related party transaction under Multilateral Instrument 61-101 but is expected to be exempt from formal valuation and minority shareholder approval requirements.

Notable Quotes

• None provided in the text.