NV Gold Closes CDN$3,000,200 Non-Brokered Private Placement and Strategic Investment by Crescat Capital LLC
580 Hornby Street, Suite 588
Vancouver, British Columbia, V6C 3B6
Tel: +1 888 363 9883
www.nvgoldcorp.com
NV Gold Closes CDN$3,000,200 Non-Brokered Private Placement and
Strategic Investment by Crescat Capital LLC
August 24, 2020 - Vancouver, British Columbia – NV Gold Corporation (TSXV: NVX;
US: NVGLF) (“NV Gold” or the “Company”) is pleased to announce that it has closed
the CDN$3,000,200 non-brokered private placement previously announced on August
4th, 2020 (the “ Placement ”). The Company sold 9,375,625 units (the “Units”) at
CDN$0.32 per Unit . Each Unit consists of one Share and one-half of one Warrant,
each whole Warrant exercisable to acquire one common share at CDN$0. 40 per share
until August 21, 2022.
“NV Gold continues to receive strong support from the investment community as we
advance our property portfolios in British Columbia and Nevada. The Company is
currently executing three concurrent exploration programs at the Exodus, Sandy and
Slumber Gold Projects , and expects to announce news on the key catalysts throughout
the Fall ,” commented Peter A. Ball, President and CEO of NV Gold. “We would
also like to welcome Crescat Capital LLC as one of the Company’s newest large
shareholders, alongside existing holders Eric Sprott and NV Gold’s Chairman , John
Watson.
Kevin Smith, Crescat’s founder and CIO, said , “We are enthusiastic about NV Gold’s
exploration assets in both Nevada and British Columbia and excited to be working with
the Company’s highly accomplished board of directors and technical team.”
Crescat Capital LLC (" Crescat") acquired 3,125,000 Units in the Placement and the
Company has granted Crescat a right to participate in future equity financings of the
Company to allow it to maintain its pro-rata ownership of the common shares of the
Company, for as long as Crescat holds at least 5% of the Company's common Shares.
Crescat previously purchased 2,000,000 Units of the Company in its private placement
which closed May 26 th, 2020 , and now holds 5,125,000 common shares of NV Gold,
warrants to purchase 2,562,500 common shares.
The net proceeds of the Placement will be used by the Company for the advancement
of the Exodus, Slumber and Sandy Gold Projects, and for general working capital. The
Company paid finder’s fees totaling CDN$73,908.80 and issued 230,965 finder’s
warrants in respect of subscriptions under the private placement. Each finder’s warrant
is exercisable to ac quire one common share at CDN$0. 40 per share until August 21,
2022.
The common shares forming part of the Units and any shares issued upon exercise of
the Warrants or the finder’s warrants are subject to a hold period which expires on
December 21, 2020.
About Crescat Capital LLC
Crescat is a global macro asset management firm headquartered in Denver, Colorado,
which deploys tactical investment themes based on proprietary value -driven equity and
macro models. Crescat's investment goals are to provide industry leading absolute and risk-
adjusted returns over complete business cycles with low correlation to common
benchmarks and they apply their investment process across a mix of asset classes and
strategies. Crescat is taking activist stakes in the precious metals exploration industry today
and has recently launched a new private fund to focus on that strategy.
About NV Gold Corporation
NV Gold ( TSXV: NVX, US: NVGLF ) is a junior exploration company based in
Vancouver, British Columbia that is focused on delivering value through miner al
discoveries in North America, leveraging its highly experienced in -house technical
knowledge, and identifying and drilling 2 -3 priority projects per year. NV Gold controls
multiple drill-ready projects in Nevada, and has entered into an Option Agreement on the
high-grade Exodus Gold Project in British Columbia, Canada.
On behalf of the Board of Directors,
Peter A. Ball
President & 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 statement s or information. All statements other than
statements of historical fact included in this release, including in respect of the future plans and objectives
of the Company, 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 mate rially 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.