Nv GOLD Announces Private Placement of up to CDN$980,000 “
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
Tel: +1 888 363 9883
www.nvgoldcorp.com
NV GOLD ANNOUNCES PRIVATE PLACEMENT OF UP TO CDN$980,000
“Not For Distribution to U.S. News Wire Services or for Dissemination in the U.S.”
May 11, 2020 - Vancouver, British Columbia – NV Gold Corporation (TSX.V: NVX;
US: NVGLF) (“NV Gold” or the “Company”) is pleased to announce a non-brokered
private placement of units of the Company for gross proceeds of up to CDN$980,000 (the
“Placement”).
“It will be a busy season in Nevada for NV Gold during 2020 , as we initiate our
spring/ summer exploration program, commencing at the Slumber Gold Project ,”
commented Peter A. Ball, President and CEO of NV Gold. “We welcome the strong
interest and investment into the private placement from GoldSpot Discoveries Corp., a
mining-focused technology and investment company that is working with some of the
leading exploration and mining names in the industry."
The Placement is an offering of up to 7,000,000 units (the “Units”) at CDN$0.14 per Unit.
Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.20 per
share for 24 months from issue of the Units. A finder’s fee is payable on sub scriptions by
certain of the subscribers of 7% of the cash proceeds paid by such subscribers and warrants
to purchase 7% of the number shares issuable to such subscribers in respect of their
subscriptions for Units.
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 a dvancement of existing
properties, potential a cquisition of new properties, and for general working capital. All
securities issued under the placements will be subject to a four month hold period from the
date of issue in accordance with applicable securities laws. The financing, announced on
February 26th, 2020, was cancelled.
The Company also wishes to announce that is has cancelled its Letter of Intent with option
to acquire the Silver District Project in Arizona from Magellan Gold Corp. Please refer to
the Company’s news release dated January 13, 2020.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any
of the securities in the United States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the “U.S. Securities Act” ) or
any state securities laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state securities laws
or an exemption from such registration is available.
About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is
focused on delivering value through mineral discoveries and project advancement .
Leveraging its highly experienced in -house technical knowledge, NV Gold’ s geological
team intends to utilize its geological databases, which contain a vast treasury of field
knowledge spanning decades of research and exploration, combined with a portfolio of
mineral properties in Nevada, to prioritize key projects for focused exploration programs.
The Company currently has under 47 million shares outstanding, with close to 20% owned
by NV Gold’s management team.
On behalf of the Board of Directors,
Peter A. Ball
President and CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or
contact:
Peter A. Ball, President & CEO
Phone: 1 -888-363-9883
Email: [email protected]
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 CDN$980,000 and the proposed uses of such funds 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 re gulators. 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.